Royal Bank Of Canada Issues Positive Forecast for Suncor Energy (TSE:SU) Stock Price

Key Points

• Royal Bank of Canada has raised its price target for Suncor Energy from C$62.00 to C$67.00, suggesting a potential upside of 16.32% from its current price.
• The stock is currently rated as a "Moderate Buy" by analysts, with a consensus target price of C$63.83.
• Suncor Energy's shares experienced a slight decline of 0.6% to reach C$57.60 during recent trading sessions.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU had its price target upped by Royal Bank Of Canada from C$62.00 to C$67.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's target price indicates a potential upside of 16.32% from the company's current price.

A number of other research firms also recently issued reports on SU. Raymond James Financial lifted their price objective on shares of Suncor Energy from C$57.00 to C$58.00 and gave the company a "market perform" rating in a report on Thursday, August 7th. Gerdes Energy Research lowered their price objective on shares of Suncor Energy from C$79.00 to C$77.00 in a report on Thursday, September 11th. Jefferies Financial Group lifted their price objective on shares of Suncor Energy from C$53.00 to C$57.00 in a report on Monday, August 18th. ATB Capital lifted their price objective on shares of Suncor Energy from C$60.00 to C$62.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Suncor Energy from C$59.00 to C$60.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$63.83.

Suncor Energy Stock Down 0.6%

SU traded down C$0.35 during trading on Tuesday, reaching C$57.60. The company had a trading volume of 1,608,496 shares, compared to its average volume of 7,995,303. The company has a debt-to-equity ratio of 33.35, a current ratio of 1.59 and a quick ratio of 0.83. Suncor Energy has a 12 month low of C$43.59 and a 12 month high of C$60.48. The business's fifty day moving average price is C$56.19 and its 200 day moving average price is C$52.85. The company has a market cap of C$69.88 billion, a P/E ratio of 12.69, a PEG ratio of 0.15 and a beta of 0.76.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last announced its quarterly earnings results on Tuesday, August 5th. The company reported C$0.71 earnings per share for the quarter. Suncor Energy had a net margin of 15.15% and a return on equity of 18.10%. Equities analysts anticipate that Suncor Energy will post 4.4208333 EPS for the current year.

Insider Transactions at Suncor Energy

In other Suncor Energy news, insider Kristopher Peter Smith sold 100,000 shares of the company's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of C$57.57, for a total value of C$5,757,000.00. Following the transaction, the insider directly owned 48,482 shares in the company, valued at C$2,791,108.74. The trade was a 67.35% decrease in their ownership of the stock. Also, Director Russell Girling bought 10,000 shares of Suncor Energy stock in a transaction dated Thursday, August 14th. The stock was acquired at an average cost of C$53.48 per share, with a total value of C$534,790.00. Following the transaction, the director owned 45,000 shares of the company's stock, valued at C$2,406,555. This trade represents a 28.57% increase in their position. Over the last 90 days, insiders sold 139,542 shares of company stock valued at $8,052,015. Corporate insiders own 0.01% of the company's stock.

Suncor Energy Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.