Suncor Energy (TSE:SU – Free Report) (NYSE:SU) had its target price boosted by Royal Bank of Canada from C$65.00 to C$67.00 in a research report sent to investors on Thursday morning, BayStreet.CA reports.
Several other analysts have also recently issued reports on the stock. Raymond James set a C$51.00 target price on shares of Suncor Energy and gave the stock a market perform rating in a research note on Wednesday, May 29th. Wells Fargo & Company lifted their price objective on Suncor Energy from C$61.00 to C$66.00 and gave the company an overweight rating in a research note on Wednesday, May 22nd. BMO Capital Markets upgraded Suncor Energy from a market perform rating to an outperform rating and set a C$62.00 target price on the stock in a research note on Wednesday. Jefferies Financial Group raised their price target on Suncor Energy from C$54.00 to C$62.00 and gave the company a hold rating in a report on Wednesday, May 22nd. Finally, Wolfe Research upgraded shares of Suncor Energy to a strong-buy rating in a research report on Thursday, July 18th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of C$61.96.
Check Out Our Latest Report on SU
Suncor Energy Stock Performance
Suncor Energy (TSE:SU – Get Free Report) (NYSE:SU) last announced its quarterly earnings results on Tuesday, May 7th. The company reported C$1.41 earnings per share for the quarter, beating the consensus estimate of C$1.23 by C$0.18. Suncor Energy had a return on equity of 18.64% and a net margin of 15.85%. The firm had revenue of C$12.53 billion for the quarter, compared to analysts’ expectations of C$11.81 billion. On average, sell-side analysts forecast that Suncor Energy will post 5.7081192 earnings per share for the current year.
Suncor Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be paid a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Wednesday, September 4th. Suncor Energy’s dividend payout ratio is presently 35.91%.
Insider Activity
In other news, Senior Officer Kristopher Peter Smith sold 100,000 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of C$51.66, for a total value of C$5,165,900.00. Insiders own 0.01% of the company’s stock.
Suncor Energy Company Profile
Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.
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