Suncor Energy (TSE:SU) Hits New 1-Year High - Still a Buy?

Key Points

• Suncor Energy reached a new 52-week high of C$97.13, closing at C$95.88. Analysts maintain a “Moderate Buy” consensus, with an average price target of C$97.69 and several firms recently raising their targets.
• The company reported quarterly revenue of C$17.50 billion and earnings of C$3.23 per share, alongside a 19.38% return on equity and 15.32% net margin.
• Suncor announced a quarterly dividend of $0.60 per share, equivalent to $2.40 annually and a 2.5% yield. However, insiders sold roughly 60,862 shares worth C$5.47 million during the quarter.

Suncor Energy Inc. (TSE:SU - Get Free Report) NYSE: SU's share price reached a new 52-week high during trading on Thursday . The stock traded as high as C$97.13 and last traded at C$95.88, with a volume of 345829 shares. The stock had previously closed at C$95.29.

Analysts Set New Price Targets

A number of research firms have weighed in on SU. Raymond James Financial upped their price target on Suncor Energy from C$103.00 to C$109.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. JPMorgan Chase & Co. boosted their target price on shares of Suncor Energy from C$107.00 to C$114.00 in a research report on Thursday, August 13th. Scotiabank upgraded shares of Suncor Energy to a "strong-buy" rating in a research note on Friday, June 26th. Desjardins set a C$107.00 price target on shares of Suncor Energy and gave the stock a "buy" rating in a research report on Friday, July 17th. Finally, The Goldman Sachs Group lowered Suncor Energy from a "buy" rating to a "hold" rating in a report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$97.69.

Suncor Energy Trading Down 0.6%

The firm's 50-day simple moving average is C$89.63 and its 200 day simple moving average is C$87.10. The stock has a market cap of C$110.82 billion, a P/E ratio of 12.65, a PEG ratio of 0.15 and a beta of 0.19. The company has a current ratio of 1.65, a quick ratio of 0.83 and a debt-to-equity ratio of 30.48.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last issued 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 return on equity of 19.38% and a net margin of 15.32%.The business had revenue of C$17.50 billion during the quarter. As a group, equities research analysts anticipate that Suncor Energy Inc. will post 4.4208333 earnings per share for the current year.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 25th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.40 annualized dividend and a yield of 2.5%. Suncor Energy's payout ratio is presently 31.64%.

Insiders Place Their Bets

In other news, insider Richard Michael Kruger sold 15,378 shares of the stock in a transaction on 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. Also, insider Shelley Powell sold 41,911 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of C$87.60, for a total value of C$3,671,403.60. Following the completion of the transaction, the insider directly owned 27,705 shares of the company's stock, valued at approximately C$2,426,958. The trade was a 60.20% decrease in their position. Over the last quarter, insiders have sold 60,862 shares of company stock worth $5,466,972. 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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