Brokerages Set Suncor Energy Inc. (TSE:SU) Price Target at C$97.69

Suncor Energy Inc. (TSE:SU) (NYSE:SU) has been assigned a consensus rating of “Moderate Buy” from the thirteen brokerages that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$97.69.

SU has been the subject of a number of research reports. Gerdes Energy Research cut Suncor Energy from a “buy” rating to a “neutral” rating and boosted their target price for the stock from C$96.00 to C$97.00 in a report on Wednesday, July 22nd. The Goldman Sachs Group lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Friday, June 5th. Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Raymond James Financial boosted their price objective on shares of Suncor Energy from C$103.00 to C$109.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Finally, Desjardins set a C$107.00 price objective on shares of Suncor Energy and gave the stock a “buy” rating in a research report on Friday, July 17th.

Insider Buying and Selling

In related news, insider Shelley Powell sold 41,911 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of C$87.60, for a total transaction of C$3,671,403.60. Following the completion of the sale, the insider directly owned 27,705 shares of the company’s stock, valued at approximately C$2,426,958. This represents a 60.20% decrease in their position. Also, insider Curtis Wade Serra sold 2,400 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of C$94.03, for a total value of C$225,672.00. In the last three months, insiders sold 59,689 shares of company stock valued at $5,355,525. Company insiders own 0.01% of the company’s stock.

Suncor Energy Price Performance

SU stock opened at C$94.25 on Friday. The stock has a 50-day moving average price of C$85.82 and a two-hundred day moving average price of C$85.41. Suncor Energy has a 12-month low of C$53.02 and a 12-month high of C$96.53. The company has a current ratio of 1.65, a quick ratio of 0.83 and a debt-to-equity ratio of 30.48. The company has a market cap of C$110.24 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 0.15 and a beta of 0.18.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its quarterly earnings results on Tuesday, August 4th. The company reported C$3.23 EPS for the quarter. The company had revenue of C$17.50 billion during the quarter. Suncor Energy had a return on equity of 19.38% and a net margin of 15.32%. As a group, research analysts predict that Suncor Energy will post 4.4208333 EPS for the current year.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 25th were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, June 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.5%. Suncor Energy’s payout ratio is presently 31.64%.

About Suncor Energy

Suncor Energy Inc is an integrated energy company. The company’s operations include oil sands development, production and upgrading, offshore oil and gas, petroleum refining in Canada and the U.S. and the company’s PetroCanada retail and wholesale distribution networks. The company is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.