Suncor Energy (TSE:SU) Stock Price Expected to Rise, Raymond James Analyst Says

Suncor Energy (TSE:SU) (NYSE:SU) had its price target increased by investment analysts at Raymond James from C$57.00 to C$58.00 in a research note issued on Friday,BayStreet.CA reports. The firm currently has a “market perform” rating on the stock. Raymond James’ price target suggests a potential upside of 3.98% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. UBS Group lifted their target price on Suncor Energy from C$61.00 to C$65.00 in a report on Monday, November 18th. TD Securities lifted their price objective on shares of Suncor Energy from C$60.00 to C$62.00 in a report on Wednesday, November 13th. Royal Bank of Canada dropped their price target on shares of Suncor Energy from C$66.00 to C$65.00 in a research note on Tuesday, January 14th. Jefferies Financial Group upped their target price on shares of Suncor Energy from C$54.00 to C$58.00 in a report on Thursday, January 30th. Finally, Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Thursday, November 14th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$62.54.

Suncor Energy Price Performance

Shares of Suncor Energy stock traded up C$0.79 on Friday, hitting C$55.78. 1,046,476 shares of the company traded hands, compared to its average volume of 5,425,703. The business has a 50-day simple moving average of C$53.98 and a 200 day simple moving average of C$53.72. Suncor Energy has a 52 week low of C$42.43 and a 52 week high of C$58.58. The stock has a market capitalization of C$70.84 billion, a P/E ratio of 9.58, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The company has a debt-to-equity ratio of 34.98, a quick ratio of 0.83 and a current ratio of 1.46.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its quarterly earnings data on Tuesday, November 12th. The company reported C$1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.10 by C$0.38. Suncor Energy had a return on equity of 17.68% and a net margin of 14.87%. During the same quarter in the previous year, the company posted $1.52 earnings per share. Research analysts expect that Suncor Energy will post 4.4208333 earnings per share for the current fiscal year.

Insider Transactions at Suncor Energy

In other news, Senior Officer Kristopher Peter Smith sold 105,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of C$57.10, for a total transaction of C$5,995,185.00. Also, Senior Officer Shelley Powell sold 50,000 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of C$56.87, for a total value of C$2,843,700.00. 0.01% of the stock is owned by insiders.

About Suncor Energy

Suncor Energy Inc is an integrated energy company. The company’s operations include oil sands development, production and upgrading, offshore oil and gas, petroleum refining in Canada and the U.S. and the company’s PetroCanada retail and wholesale distribution networks. The company is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen.