Suncor Energy (TSE:SU) Price Target Raised to C$58.00 at Jefferies Financial Group

Suncor Energy (TSE:SU) (NYSE:SU) had its price target increased by Jefferies Financial Group from C$54.00 to C$58.00 in a report released on Thursday,BayStreet.CA reports.

Several other analysts also recently weighed in on the company. National Bankshares lowered their target price on Suncor Energy from C$76.00 to C$65.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Royal Bank of Canada dropped their price objective on Suncor Energy from C$66.00 to C$65.00 in a report on Tuesday, January 14th. UBS Group increased their target price on Suncor Energy from C$61.00 to C$65.00 in a research note on Monday, November 18th. JPMorgan Chase & Co. raised their price target on shares of Suncor Energy from C$59.00 to C$61.00 in a research report on Friday, December 13th. Finally, Gerdes Energy Research set a C$69.00 price target on shares of Suncor Energy and gave the company a “buy” rating in a report on Monday, November 25th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average price target of C$62.32.

Suncor Energy Stock Performance

Shares of TSE:SU opened at C$55.93 on Thursday. The business’s 50-day simple moving average is C$54.16 and its 200 day simple moving average is C$53.60. The company has a market cap of C$71.03 billion, a P/E ratio of 9.61, a PEG ratio of 0.15 and a beta of 1.47. The company has a debt-to-equity ratio of 34.98, a quick ratio of 0.83 and a current ratio of 1.46. Suncor Energy has a one year low of C$42.43 and a one year high of C$58.58.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its earnings results on Tuesday, November 12th. The company reported C$1.48 EPS for the quarter, topping analysts’ consensus estimates of C$1.10 by C$0.38. Suncor Energy had a net margin of 14.87% and a return on equity of 17.68%. During the same quarter in the previous year, the company earned $1.52 EPS. On average, sell-side analysts forecast that Suncor Energy will post 4.4208333 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 24th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a dividend yield of 4.08%. Suncor Energy’s dividend payout ratio is 37.46%.

Insider Buying and Selling

In other news, Senior Officer Shelley Powell sold 50,000 shares of Suncor Energy stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of C$56.87, for a total transaction of C$2,843,700.00. Also, Senior Officer Kristopher Peter Smith sold 105,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of C$57.10, for a total value of C$5,995,185.00. Company 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.