Suncor Energy (TSE:SU) Stock Price Target Raised at ATB Cormark Capital Markets

Key Points

• ATB Cormark raised Suncor Energy’s price target to C$110 from C$108 while maintaining an “outperform” rating, implying 12.68% upside from the reported C$97.62 share price.
• Analyst sentiment remains positive, with MarketBeat reporting a “Moderate Buy” consensus rating and an average price target of C$100.94; several firms recently raised their targets, including National Bank Financial to C$146.
• Suncor shares traded near their 12-month high, while the company reported C$3.23 quarterly EPS and C$17.50 billion in revenue. Insiders sold 79,792 shares worth approximately C$7.3 million over the past 90 days.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU had its target price hoisted by research analysts at ATB Cormark Capital Markets from C$108.00 to C$110.00 in a report released on Tuesday, BayStreet reports. The brokerage presently has an "outperform" rating on the stock. ATB Cormark Capital Markets' price objective would suggest a potential upside of 12.68% from the stock's current price.

SU has been the subject of several other research reports. JPMorgan Chase & Co. increased their price target on Suncor Energy from C$107.00 to C$114.00 in a research note on Thursday, August 13th. Desjardins set a C$107.00 target price on shares of Suncor Energy and gave the company a "buy" rating in a research note on Friday, July 17th. Raymond James Financial boosted their price target on shares of Suncor Energy from C$109.00 to C$118.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 16th. National Bank Financial increased their price objective on shares of Suncor Energy from C$118.00 to C$146.00 and gave the company an "outperform" rating in a report on Wednesday, September 30th. Finally, BMO Capital Markets raised their price objective on shares of Suncor Energy from C$100.00 to C$105.00 in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Suncor Energy presently has an average rating of "Moderate Buy" and an average target price of C$100.94.

Suncor Energy Stock Performance

Shares of Suncor Energy stock traded down C$0.37 during trading on Tuesday, hitting C$97.62. 1,298,197 shares of the stock were exchanged, compared to its average volume of 6,271,758. The company has a debt-to-equity ratio of 30.48, a quick ratio of 0.83 and a current ratio of 1.65. Suncor Energy has a 12 month low of C$53.02 and a 12 month high of C$100.24. The stock's fifty day moving average is C$93.61 and its 200 day moving average is C$89.38. The stock has a market cap of C$114.18 billion, a PE ratio of 13.03, a P/E/G ratio of 0.15 and a beta of 0.18.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last posted its earnings results on Tuesday, August 4th. The company reported C$3.23 earnings per share (EPS) for the quarter. Suncor Energy had a net margin of 15.32% and a return on equity of 19.38%. The firm had revenue of C$17.50 billion during the quarter. As a group, sell-side analysts anticipate that Suncor Energy will post 4.4208333 EPS for the current year.

Insider Activity at Suncor Energy

In other news, insider Curtis Wade Serra sold 2,400 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of C$94.03, for a total value of C$225,672.00. Also, insider Adam Husain Albeldawi sold 1,173 shares of Suncor Energy stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of C$95.01, for a total value of C$111,446.73. Over the last 90 days, insiders sold 79,792 shares of company stock worth $7,294,928. Insiders own 0.01% of the company's stock.

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. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.

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