UBS Group Raises Suncor Energy (TSE:SU) Price Target to C$65.00

Suncor Energy (TSE:SU) (NYSE:SU) had its target price upped by analysts at UBS Group from C$61.00 to C$65.00 in a research report issued on Wednesday,BayStreet.CA reports. UBS Group’s price target would indicate a potential upside of 11.43% from the company’s current price.

SU has been the topic of a number of other research reports. TD Securities raised their target price on Suncor Energy from C$62.00 to C$63.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Gerdes Energy Research decreased their price target on Suncor Energy from C$79.00 to C$77.00 in a research report on Thursday, September 11th. Jefferies Financial Group increased their price target on Suncor Energy from C$53.00 to C$57.00 in a research report on Monday, August 18th. ATB Capital increased their price target on Suncor Energy from C$60.00 to C$62.00 and gave the company a “sector perform” rating in a research report on Thursday, August 7th. Finally, Raymond James Financial increased their price target on Suncor Energy from C$57.00 to C$58.00 and gave the company a “market perform” rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Suncor Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of C$64.17.

Suncor Energy Stock Up 4.8%

Shares of SU stock traded up C$2.68 during trading hours on Wednesday, reaching C$58.33. The company had a trading volume of 3,354,794 shares, compared to its average volume of 7,704,644. Suncor Energy has a 12 month low of C$43.59 and a 12 month high of C$60.48. The company has a debt-to-equity ratio of 33.35, a current ratio of 1.59 and a quick ratio of 0.83. The business has a fifty day simple moving average of C$56.71 and a 200-day simple moving average of C$53.60. The company has a market cap of C$70.77 billion, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 0.15 and a beta of 0.61.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its earnings results on Tuesday, August 5th. The company reported C$0.71 earnings per share for the quarter. Suncor Energy had a return on equity of 18.10% and a net margin of 15.15%. On average, research analysts expect that Suncor Energy will post 4.4208333 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Kristopher Peter Smith sold 100,000 shares of Suncor Energy stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of C$57.57, for a total value of C$5,757,000.00. Following the completion of the transaction, the insider directly owned 48,482 shares in the company, valued at approximately C$2,791,108.74. The trade was a 67.35% decrease in their ownership of the stock. Also, insider Shelley Powell sold 30,000 shares of Suncor Energy stock in a transaction on Thursday, September 11th. The shares were sold at an average price of C$58.06, for a total value of C$1,741,650.00. Following the completion of the transaction, the insider owned 27,705 shares of the company’s stock, valued at approximately C$1,608,413.78. This trade represents a 51.99% decrease in their ownership of the stock. Insiders sold 139,542 shares of company stock valued at $8,052,015 in the last 90 days. Corporate insiders own 0.01% of the company’s stock.

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.