Suncor Energy (TSE:SU) Stock Price Target Raised at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised Suncor Energy’s price target to C$110 from C$100 and maintained an “outperform” rating, implying approximately 2.9% upside from the reported share price.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of C$101.56; individual targets range as high as C$146.
• Suncor shares rose to C$106.90, near their 52-week high of C$107.23. The company reported C$3.23 quarterly EPS on C$17.50 billion in revenue, while insiders sold nearly 80,000 shares over the last quarter.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU had its target price lifted by research analysts at Royal Bank Of Canada from C$100.00 to C$110.00 in a research report issued to clients and investors on Tuesday, BayStreet reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective suggests a potential upside of 2.90% from the stock's current price.

SU has been the subject of several other research reports. BMO Capital Markets boosted their target price on Suncor Energy from C$100.00 to C$105.00 in a research note on Wednesday, August 5th. Raymond James Financial increased their target price on shares of Suncor Energy from C$109.00 to C$118.00 and gave the stock an "outperform" rating in a report on Wednesday, September 16th. Desjardins set a C$107.00 price target on shares of Suncor Energy and gave the company a "buy" rating in a report on Friday, July 17th. National Bank Financial upped their price objective on shares of Suncor Energy from C$118.00 to C$146.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Suncor Energy from C$107.00 to C$114.00 in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$101.56.

Suncor Energy Price Performance

Shares of TSE:SU traded up C$3.86 during midday trading on Tuesday, hitting C$106.90. The stock had a trading volume of 2,130,413 shares, compared to its average volume of 6,230,052. The company's 50-day moving average price is C$94.34 and its 200-day moving average price is C$89.85. Suncor Energy has a fifty-two week low of C$53.02 and a fifty-two week high of C$107.23. The company has a quick ratio of 0.83, a current ratio of 1.65 and a debt-to-equity ratio of 30.48. The company has a market capitalization of C$125.03 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 0.15 and a beta of 0.18.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last announced its quarterly earnings data 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 business had revenue of C$17.50 billion for the quarter. As a group, equities research analysts predict that Suncor Energy will post 4.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Suncor Energy news, insider Curtis Wade Serra sold 2,400 shares of Suncor Energy stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of C$94.03, for a total transaction of C$225,672.00. Also, insider Richard Michael Kruger sold 15,378 shares of Suncor Energy stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of C$94.84, for a total value of C$1,458,449.52. Insiders have sold a total of 79,792 shares of company stock valued at $7,294,928 over the last quarter. 0.01% of the stock is currently owned by company 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. 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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