Suncor Energy (TSE:SU) Price Target Raised to C$58.00

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 - Free Report) NYSE: SU had its target price raised by Raymond James Financial from C$57.00 to C$58.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports. Raymond James Financial currently has a market perform rating on the stock. Raymond James Financial also issued estimates for Suncor Energy's FY2028 earnings at $4.95 EPS and FY2029 earnings at $5.25 EPS.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company increased their price target on shares of Suncor Energy from C$59.00 to C$60.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. TD Securities boosted their price target on Suncor Energy from C$62.00 to C$63.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Desjardins upped their price objective on Suncor Energy from C$64.00 to C$65.00 and gave the stock a "buy" rating in a report on Thursday. JPMorgan Chase & Co. cut their target price on Suncor Energy from C$63.00 to C$62.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, Scotiabank upped their target price on Suncor Energy from C$60.00 to C$62.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 6th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$62.67.

Suncor Energy Price Performance

Shares of Suncor Energy stock traded down C$0.49 during trading on Thursday, hitting C$53.45. 5,627,742 shares of the company's stock traded hands, compared to its average volume of 7,994,301. The company has a debt-to-equity ratio of 33.35, a current ratio of 1.59 and a quick ratio of 0.83. The firm's fifty day moving average price is C$53.23 and its 200 day moving average price is C$52.23. Suncor Energy has a twelve month low of C$43.59 and a twelve month high of C$58.58. The company has a market cap of C$67.04 billion, a PE ratio of 8.44, a PEG ratio of 0.15 and a beta of 1.47.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last announced 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%. Analysts forecast that Suncor Energy will post 4.4208333 earnings per share for the current year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 25th were given a dividend of $0.57 per share. The ex-dividend date was Wednesday, June 4th. This represents a $2.28 annualized dividend and a dividend yield of 4.3%. Suncor Energy's dividend payout ratio (DPR) is 34.42%.

Insider Buying and Selling at Suncor Energy

In other news, Senior Officer Jacqueline Sue Moore sold 25,585 shares of the company's stock in a transaction dated 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 business's stock in a transaction that occurred on Friday, June 6th. The stock was 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 currently owned by company 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.