BMO Capital Markets Increases Suncor Energy (TSE:SU) Price Target to C$62.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price target increased by stock analysts at BMO Capital Markets from C$60.00 to C$62.00 in a note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ target price indicates a potential upside of 12.05% from the stock’s current price.

Several other brokerages have also issued reports on SU. Royal Bank of Canada raised their target price on shares of Suncor Energy from C$58.00 to C$60.00 in a research note on Thursday, May 9th. Desjardins lifted their target price on shares of Suncor Energy from C$48.50 to C$54.00 and gave the stock a “hold” rating in a report on Tuesday, April 23rd. TD Securities upped their target price on shares of Suncor Energy from C$52.00 to C$57.00 and gave the company a “hold” rating in a research report on Wednesday. Jefferies Financial Group raised their price target on Suncor Energy from C$54.00 to C$62.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Wells Fargo & Company upped their price objective on Suncor Energy from C$61.00 to C$66.00 and gave the company an “overweight” rating in a report on Wednesday. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy has an average rating of “Hold” and an average target price of C$62.42.

Suncor Energy Price Performance

TSE SU traded down C$0.70 on Wednesday, hitting C$55.33. 1,445,653 shares of the company were exchanged, compared to its average volume of 7,877,888. Suncor Energy has a 1-year low of C$37.09 and a 1-year high of C$56.30. The firm has a 50 day moving average of C$52.11 and a two-hundred day moving average of C$46.89. The company has a current ratio of 1.51, a quick ratio of 0.83 and a debt-to-equity ratio of 36.00. The company has a market cap of C$70.82 billion, a P/E ratio of 9.16, a P/E/G ratio of 0.15 and a beta of 1.50.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its quarterly earnings data on Wednesday, February 21st. The company reported C$1.26 earnings per share for the quarter, topping the consensus estimate of C$1.05 by C$0.21. The firm had revenue of C$14.14 billion during the quarter, compared to analysts’ expectations of C$11.33 billion. Suncor Energy had a net margin of 15.85% and a return on equity of 18.64%. On average, equities analysts predict that Suncor Energy will post 4.9972527 EPS for the current year.

Insider Buying and Selling

In related news, Senior Officer Jacqueline Sue Moore sold 12,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$45.83, for a total value of C$549,960.00. In other Suncor Energy news, Senior Officer Shelley Powell sold 16,400 shares of Suncor Energy stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of C$45.84, for a total value of C$751,776.00. Also, Senior Officer Jacqueline Sue Moore sold 12,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$45.83, for a total transaction of C$549,960.00. 0.01% of the stock is currently owned by company insiders.

About Suncor Energy

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.