Suncor Energy (TSE:SU) Hits New 12-Month High - Still a Buy?

Key Points

• Suncor Energy reached a new 52-week high of C$100.64, with shares last trading at C$100.38 and the company valued at approximately C$117.76 billion.
• Analyst sentiment remains favorable, with one Strong Buy, eight Buy and four Hold ratings, producing a “Moderate Buy” consensus and an average price target of C$100.94. Recent targets range as high as C$118.
• Suncor reported C$3.23 in quarterly EPS on C$17.50 billion in revenue and pays a quarterly dividend of C$0.60, equivalent to a 2.4% annualized yield. Insiders have sold nearly 80,000 shares worth about C$7.3 million over the past 90 days.

Shares of Suncor Energy Inc. (TSE:SU - Get Free Report) NYSE: SU hit a new 52-week high during trading on Thursday. The company traded as high as C$100.64 and last traded at C$100.38, with a volume of 801758 shares changing hands. The stock had previously closed at C$97.26.

Analyst Ratings Changes

Several brokerages have recently weighed in on SU. Raymond James Financial lifted 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 note on Wednesday, September 16th. TD upped their price objective on Suncor Energy from C$113.00 to C$116.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Gerdes Energy Research cut Suncor Energy from a "buy" rating to a "neutral" rating and raised their target price for the stock from C$96.00 to C$97.00 in a report on Wednesday, July 22nd. JPMorgan Chase & Co. lifted their target price on Suncor Energy from C$107.00 to C$114.00 in a research report on Thursday, August 13th. Finally, BMO Capital Markets boosted their price target on Suncor Energy from C$100.00 to C$105.00 in a report on Wednesday, August 5th. One 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of C$100.94.

Suncor Energy Price Performance

The company has a current ratio of 1.65, a quick ratio of 0.83 and a debt-to-equity ratio of 30.48. The firm's 50-day moving average price is C$93.84 and its 200-day moving average price is C$89.54. The stock has a market capitalization of C$117.76 billion, a PE ratio of 13.44, a PEG ratio of 0.15 and a beta of 0.18.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last posted its quarterly earnings data on Tuesday, August 4th. The company reported C$3.23 earnings per share 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. On average, equities analysts forecast that Suncor Energy Inc. will post 4.4208333 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 25th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, September 4th. Suncor Energy's payout ratio is presently 31.64%.

Insiders Place Their Bets

In related news, insider Richard Michael Kruger sold 15,378 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of C$94.84, for a total value of C$1,458,449.52. Also, insider David Jason Oldreive sold 5,000 shares of the business's stock in a transaction on Monday, September 14th. The stock was sold at an average price of C$98.00, for a total value of C$490,000.00. In the last 90 days, insiders have sold 79,792 shares of company stock worth $7,294,928. 0.01% of the stock is owned by corporate 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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