Royal Bank of Canada upgraded shares of Suncor Energy (TSE:SU – Get Rating) (NYSE:SU) to a buy rating in a research report released on Tuesday morning, TipRanks reports. They currently have C$53.00 target price on the stock.
A number of other brokerages also recently weighed in on SU. CIBC boosted their price target on shares of Suncor Energy from C$60.00 to C$65.00 in a report on Thursday, June 9th. Raymond James boosted their price target on shares of Suncor Energy from C$50.00 to C$52.00 and gave the stock an outperform rating in a report on Tuesday, May 10th. CSFB boosted their price target on shares of Suncor Energy from C$58.00 to C$63.00 in a report on Thursday, June 9th. TD Securities boosted their price target on shares of Suncor Energy from C$51.00 to C$53.00 and gave the stock a buy rating in a report on Tuesday, May 10th. Finally, National Bankshares cut their price target on shares of Suncor Energy from C$54.00 to C$52.00 in a report on Thursday, April 14th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of C$48.75.
SU opened at C$42.73 on Tuesday. The company has a debt-to-equity ratio of 47.08, a current ratio of 1.18 and a quick ratio of 0.70. The company has a market capitalization of C$60.39 billion and a price-to-earnings ratio of 10.03. The firm’s fifty day moving average price is C$47.60 and its two-hundred day moving average price is C$40.45. Suncor Energy has a 1 year low of C$21.90 and a 1 year high of C$53.62.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, June 24th will be given a dividend of $0.47 per share. The ex-dividend date is Thursday, June 2nd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a dividend yield of 4.40%. Suncor Energy’s dividend payout ratio is currently 29.56%.
In related news, Director Michael M. Wilson purchased 10,000 shares of the firm’s stock in a transaction dated Monday, May 16th. The shares were purchased at an average cost of C$48.04 per share, for a total transaction of C$480,420.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at approximately C$960,840.
Suncor Energy Company Profile (Get Rating)
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.
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