Royal Bank of Canada Boosts Suncor Energy (TSE:SU) Price Target to C$66.00

Suncor Energy (TSE:SU) (NYSE:SU) had its target price increased by Royal Bank of Canada from C$64.00 to C$66.00 in a report released on Thursday morning,BayStreet.CA reports.

A number of other brokerages have also recently issued reports on SU. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating and set a C$62.00 target price for the company in a research report on Wednesday, August 7th. Raymond James set a C$52.00 target price on shares of Suncor Energy in a research report on Tuesday, October 15th. National Bankshares cut their target price on shares of Suncor Energy from C$77.00 to C$73.00 in a research report on Friday, September 27th. Jefferies Financial Group reduced their price objective on shares of Suncor Energy from C$62.00 to C$55.00 and set a “hold” rating on the stock in a research note on Monday, September 16th. Finally, TD Securities upped their price objective on shares of Suncor Energy from C$60.00 to C$62.00 in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Suncor Energy has an average rating of “Moderate Buy” and a consensus target price of C$61.54.

Suncor Energy Price Performance

Shares of TSE SU traded down C$0.14 during midday trading on Thursday, hitting C$56.70. The company had a trading volume of 1,439,860 shares, compared to its average volume of 7,818,309. The company has a quick ratio of 0.83, a current ratio of 1.46 and a debt-to-equity ratio of 34.98. Suncor Energy has a twelve month low of C$40.07 and a twelve month high of C$57.50. The business has a 50-day simple moving average of C$52.61 and a two-hundred day simple moving average of C$53.10. The firm has a market capitalization of C$72.01 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th were issued a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend was Wednesday, September 4th. Suncor Energy’s payout ratio is 37.46%.

Insider Activity at Suncor Energy

In other Suncor Energy news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of C$56.54, for a total transaction of C$2,131,558.00. Company insiders own 0.01% of the company’s stock.

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.