Suncor Energy (TSE:SU) Given New C$58.00 Price Target at Raymond James Financial

Key Points

• Raymond James Financial has raised its price target on Suncor Energy from C$57.00 to C$58.00, suggesting an 8.55% potential upside from the stock's previous close.
• While five analysts rated the stock as a "hold," the overall consensus rating for Suncor Energy is "Moderate Buy" with an average target price of C$62.62.
• In recent trading, Suncor Energy shares saw a decline of 0.9%, reaching C$53.43, with a trading volume significantly lower than its average.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU had its price target increased by Raymond James Financial from C$57.00 to C$58.00 in a report issued on Thursday,BayStreet.CA reports. The firm presently has a "market perform" rating on the stock. Raymond James Financial's price objective would suggest a potential upside of 8.55% from the stock's previous close.

A number of other research analysts also recently weighed in on SU. Wells Fargo & Company upped their price objective on shares of Suncor Energy from C$59.00 to C$60.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Scotiabank increased 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 Wednesday. TD Securities increased their price objective on shares of Suncor Energy from C$62.00 to C$63.00 and gave the company a "buy" rating in a report on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of Suncor Energy from C$63.00 to C$62.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, ATB Capital increased their price target on shares of Suncor Energy from C$60.00 to C$62.00 and gave the company a "sector perform" rating in a research note on Thursday. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Suncor Energy presently has a consensus rating of "Moderate Buy" and an average target price of C$62.62.

Suncor Energy Trading Down 0.9%

Shares of TSE:SU traded down C$0.48 during trading on Thursday, reaching C$53.43. The company's stock had a trading volume of 1,775,382 shares, compared to its average volume of 7,974,878. 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 has a 12 month low of C$43.59 and a 12 month high of C$58.58. The stock has a market capitalization of C$67.01 billion, a PE ratio of 8.44, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The firm's 50 day simple moving average is C$52.98 and its two-hundred day simple moving average is C$52.33.

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

Insider Activity

In other news, Senior Officer Jacqueline Sue Moore sold 25,585 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of C$55.99, for a total value of C$1,432,478.57. Also, Director Russell Girling purchased 10,000 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were bought at an average cost of C$50.41 per share, with a total value of C$504,100.00. 0.01% of the stock is owned by insiders.

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.

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