Suncor Energy (TSE:SU) Releases Earnings Results

Suncor Energy (TSE:SU) (NYSE:SU) announced its earnings results on Tuesday. The company reported C$3.17 earnings per share (EPS) for the quarter, FiscalAI reports. Suncor Energy had a net margin of 12.17% and a return on equity of 14.01%. The company had revenue of C$17.50 billion during the quarter.

Suncor Energy Price Performance

Shares of Suncor Energy stock traded down C$3.35 on Tuesday, reaching C$90.79. 4,800,542 shares of the stock were exchanged, compared to its average volume of 6,325,349. The firm’s 50 day moving average is C$85.18 and its 200-day moving average is C$83.42. Suncor Energy has a one year low of C$52.95 and a one year high of C$96.53. The company has a debt-to-equity ratio of 32.36, a quick ratio of 0.83 and a current ratio of 1.42. The firm has a market cap of C$107.20 billion, a PE ratio of 17.26, a P/E/G ratio of 0.15 and a beta of 0.17.

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 25th were given a $0.60 dividend. The ex-dividend date was Thursday, June 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.6%. Suncor Energy’s payout ratio is presently 44.49%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Suncor Energy from C$105.00 to C$106.00 in a research note on Tuesday, May 12th. Royal Bank Of Canada increased their target price on shares of Suncor Energy from C$89.00 to C$100.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 8th. Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Desjardins set a C$107.00 price target on shares of Suncor Energy and gave the company a “buy” rating in a research report on Friday, July 17th. Finally, TD boosted their price target on Suncor Energy from C$113.00 to C$116.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$95.88.

Suncor Energy Company Profile

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.