Suncor Energy (NYSE:SU) Shares Break Above 200 Day Moving Average - Should You Sell?

Key Points

• Suncor Energy shares broke above their 200-day moving average, reaching $68.39 and last trading near $68.28, compared with a 200-day average of $63.79.
• Analyst sentiment remains broadly positive: the stock has a consensus “Moderate Buy” rating and an average price target of $80.25, although some firms recently downgraded it to “Buy” or “Hold.”
• Suncor reported quarterly earnings of $2.33 per share, beating estimates, and maintains a quarterly dividend of C$0.60 per share—an annualized yield of about 3.5%.

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU's stock price passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $63.79 and traded as high as $68.39. Suncor Energy shares last traded at $68.2780, with a volume of 2,883,847 shares.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SU shares. Scotiabank upgraded shares of Suncor Energy to a "strong-buy" rating in a report on Friday, June 26th. Weiss Ratings raised shares of Suncor Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, July 29th. Wall Street Zen cut shares of Suncor Energy from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 1st. Zacks Research downgraded Suncor Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. Finally, Desjardins raised Suncor Energy to a "moderate buy" rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.25.

Suncor Energy Stock Down 0.5%

The firm has a market capitalization of $79.86 billion, a P/E ratio of 12.57, a PEG ratio of 0.50 and a beta of 0.30. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.65. The stock has a 50 day moving average of $66.50 and a 200-day moving average of $63.79.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, topping analysts' consensus estimates of $2.14 by $0.19. The firm had revenue of $13.41 billion during the quarter, compared to analyst estimates of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same quarter last year, the business earned $0.71 earnings per share. Research analysts predict that Suncor Energy Inc. will post 7.39 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were paid a dividend of C$0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Friday, September 4th. Suncor Energy's dividend payout ratio is presently 31.86%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SU. Versant Capital Management Inc lifted its position in shares of Suncor Energy by 418.9% during the second quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer's stock worth $26,000 after acquiring an additional 398 shares in the last quarter. Continuum Advisory LLC purchased a new position in shares of Suncor Energy in the second quarter valued at $27,000. 1 North Wealth Services LLC purchased a new position in shares of Suncor Energy in the fourth quarter valued at $32,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Suncor Energy during the 1st quarter valued at $53,000. Finally, Vestor Capital LLC bought a new stake in shares of Suncor Energy during the 1st quarter valued at $59,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

About Suncor Energy

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta, Canada. Its operations include the development, production and upgrading of oil sands resources, conventional oil and natural gas production, and the refining and marketing of petroleum products.

Suncor produces crude oil, synthetic crude oil, refined fuels, lubricants and petrochemical feedstocks. Through its Petro-Canada brand, the company operates retail fuel stations and convenience stores across Canada, while its refining and marketing activities serve customers in Canada and the United States.

Founded in 1919, Suncor has evolved from an oil sands producer into one of Canada's largest integrated energy companies.

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