Suncor Energy (TSE:SU) Stock Passes Above 200 Day Moving Average – What’s Next?

Suncor Energy Inc. (TSE:SU) (NYSE:SU)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$85.99 and traded as high as C$92.35. Suncor Energy shares last traded at C$91.09, with a volume of 10,530,487 shares.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SU shares. JPMorgan Chase & Co. increased their price objective on Suncor Energy from C$107.00 to C$114.00 in a report on Thursday, August 13th. The Goldman Sachs Group cut Suncor Energy from a “buy” rating to a “hold” rating in a research report on Friday, June 5th. Desjardins set a C$107.00 price target on Suncor Energy and gave the company a “buy” rating in a report on Friday, July 17th. Raymond James Financial lifted their price target on shares of Suncor Energy from C$103.00 to C$109.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Finally, Gerdes Energy Research cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from C$96.00 to C$97.00 in a research note on Wednesday, July 22nd. One research 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$97.69.

Suncor Energy Price Performance

The company has a debt-to-equity ratio of 30.48, a current ratio of 1.65 and a quick ratio of 0.83. The stock has a market cap of C$106.54 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 0.15 and a beta of 0.18. The stock’s 50 day simple moving average is C$86.97 and its two-hundred day simple moving average is C$85.99.

Suncor Energy (TSE:SU) (NYSE:SU) last released its quarterly earnings data on Tuesday, August 4th. The company reported C$3.23 earnings per share for the quarter. The company had revenue of C$17.50 billion for the quarter. Suncor Energy had a return on equity of 19.38% and a net margin of 15.32%. On average, analysts forecast that Suncor Energy Inc. will post 4.4208333 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 25th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, June 4th. Suncor Energy’s payout ratio is presently 31.64%.

Insiders Place Their Bets

In other Suncor Energy news, insider Curtis Wade Serra sold 2,400 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of C$94.03, for a total transaction of C$225,672.00. Also, insider Richard Michael Kruger sold 15,378 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of C$94.84, for a total value of C$1,458,449.52. Over the last quarter, insiders have sold 59,689 shares of company stock valued at $5,355,525. 0.01% of the stock is currently owned by corporate insiders.

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.