Insider Buying: Suncor Energy (TSE:SU) Director Buys 10,000 Shares of Stock

Key Points

• Russell Girling, a director at Suncor Energy, purchased 10,000 shares at C$53.48 each, increasing his total holdings to 45,000 shares valued at C$2,406,555.
• Suncor Energy's stock price rose by 2.9%, reaching C$57.20, with shares trading below the average volume at 4,618,844 shares.
• The company announced a quarterly dividend of $0.57 per share, yielding approximately 4.0%, with a payout ratio of 49.67%.

Suncor Energy Inc. (TSE:SU - Get Free Report) NYSE: SU Director Russell Girling purchased 10,000 shares of the business's stock in a transaction on Thursday, August 14th. The shares were acquired at an average cost of C$53.48 per share, with a total value of C$534,790.00. Following the acquisition, the director directly owned 45,000 shares in the company, valued at approximately C$2,406,555. The trade was a 28.57% increase in their ownership of the stock.

Suncor Energy Stock Performance

Shares of TSE:SU traded down C$0.35 during trading on Friday, reaching C$57.75. 5,411,958 shares of the stock were exchanged, compared to its average volume of 8,186,823. The firm has a market cap of C$70.07 billion, a PE ratio of 12.72, a PEG ratio of 0.15 and a beta of 0.83. The stock has a 50-day moving average price of C$54.70 and a 200-day moving average price of C$52.22. The company has a current ratio of 1.59, a quick ratio of 0.83 and a debt-to-equity ratio of 33.35. Suncor Energy Inc. has a 12 month low of C$43.59 and a 12 month high of C$58.71.

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

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 25th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Thursday, September 4th. Suncor Energy's payout ratio is 49.67%.

Analyst Ratings Changes

SU has been the subject of several analyst reports. TD Securities lifted their price objective on Suncor Energy from C$62.00 to C$63.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Scotiabank boosted their target price on Suncor Energy from C$60.00 to C$62.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 6th. ATB Capital upped their price objective on shares of Suncor Energy from C$60.00 to C$62.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Wells Fargo & Company raised their target price on shares of Suncor Energy from C$59.00 to C$60.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Finally, Desjardins upped their price target on shares of Suncor Energy from C$64.00 to C$65.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of C$63.67.

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.