Suncor Energy (TSE:SU) Rating Increased to Strong-Buy at Wolfe Research

Wolfe Research upgraded shares of Suncor Energy (TSE:SU) (NYSE:SU) to a strong-buy rating in a research report released on Thursday morning, Zacks.com reports.

Other research analysts have also issued reports about the company. BMO Capital Markets increased their price objective on Suncor Energy from C$60.00 to C$62.00 and gave the company a market perform rating in a report on Wednesday, May 22nd. Jefferies Financial Group raised their target price on Suncor Energy from C$54.00 to C$62.00 and gave the stock a hold rating in a report on Wednesday, May 22nd. TD Securities raised their target price on Suncor Energy from C$52.00 to C$57.00 and gave the stock a hold rating in a report on Wednesday, May 22nd. Royal Bank of Canada raised their target price on Suncor Energy from C$60.00 to C$65.00 and gave the stock an outperform rating in a report on Wednesday, May 22nd. Finally, Scotiabank dropped their target price on Suncor Energy from C$61.00 to C$60.00 in a report on Friday, July 12th. Eight equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of C$61.54.

Suncor Energy Stock Down 0.7 %

Shares of SU stock opened at C$52.85 on Thursday. The stock’s 50-day simple moving average is C$52.78 and its 200-day simple moving average is C$49.59. The company has a debt-to-equity ratio of 36.00, a quick ratio of 0.83 and a current ratio of 1.51. The firm has a market capitalization of C$67.65 billion, a PE ratio of 8.71, a P/E/G ratio of 0.15 and a beta of 1.50. Suncor Energy has a fifty-two week low of C$37.98 and a fifty-two week high of C$56.69.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its quarterly earnings data on Tuesday, May 7th. The company reported C$1.41 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.23 by C$0.18. The business had revenue of C$12.53 billion for the quarter, compared to analyst estimates of C$11.81 billion. Suncor Energy had a return on equity of 18.64% and a net margin of 15.85%. Equities analysts expect that Suncor Energy will post 5.7081192 earnings per share for the current year.

Suncor Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 25th were issued a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend was Tuesday, June 4th. Suncor Energy’s payout ratio is currently 35.91%.

Insider Buying and Selling at Suncor Energy

In other news, Senior Officer Kristopher Peter Smith sold 100,000 shares of the firm’s stock in a transaction that occurred on 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. 0.01% of the stock is owned by corporate 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.