Suncor Energy (TSE:SU) Given New C$60.00 Price Target at Scotiabank

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU had its target price boosted by equities research analysts at Scotiabank from C$57.00 to C$60.00 in a research note issued to investors on Friday,BayStreet.CA reports. Scotiabank's price target suggests a potential upside of 9.35% from the stock's current price.

Several other research analysts also recently commented on SU. Wells Fargo & Company raised their price objective on Suncor Energy from C$59.00 to C$60.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Raymond James Financial raised their price objective on Suncor Energy from C$54.00 to C$56.00 and gave the stock a "market perform" rating in a research note on Thursday, May 8th. TD Securities decreased their price objective on Suncor Energy from C$63.00 to C$62.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. JPMorgan Chase & Co. decreased 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 note on Friday, April 11th. Finally, Desjardins decreased their target price on Suncor Energy from C$63.00 to C$62.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Suncor Energy has an average rating of "Moderate Buy" and a consensus price target of C$62.50.

Suncor Energy Stock Performance

Shares of TSE:SU traded up C$1.03 during midday trading on Friday, reaching C$54.87. 1,374,280 shares of the company's stock traded hands, compared to its average volume of 8,469,035. The company has a market cap of C$68.82 billion, a price-to-earnings ratio of 8.66, a P/E/G ratio of 0.15 and a beta of 1.47. The company has a debt-to-equity ratio of 33.35, a quick ratio of 0.83 and a current ratio of 1.59. Suncor Energy has a one year low of C$43.59 and a one year high of C$58.58. The stock has a 50 day moving average of C$51.12 and a 200 day moving average of C$52.26.

Insider Buying and Selling at Suncor Energy

In other news, Director Russell Girling purchased 10,000 shares of the company's stock in a transaction on Friday, June 6th. The shares were acquired at an average price of C$50.41 per share, for a total transaction of C$504,100.00. Also, Senior Officer Jacqueline Sue Moore sold 25,585 shares of the business'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. 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.

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.