Suncor Energy (TSE:SU) Given New C$62.00 Price Target at ATB Capital

Key Points

• ATB Capital has raised its price target for Suncor Energy from C$60.00 to C$62.00, indicating a potential upside of 16.04% from the current price.
• In addition to ATB Capital's adjustment, other analysts have made similar changes to their ratings and price targets, with five rating the stock as a hold, seven as a buy, and one as a strong buy.
• Suncor Energy's stock recently traded at C$53.43, reflecting a decline of 0.9% during mid-day trading on Thursday, with a market cap of C$67.01 billion.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU had its target price upped by equities research analysts at ATB Capital from C$60.00 to C$62.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. ATB Capital's price target indicates a potential upside of 16.04% from the company's current price.

Several other equities research analysts have also recently issued reports on the stock. Scotiabank raised their target price on shares of Suncor Energy from C$60.00 to C$62.00 and gave the stock a "sector perform" rating in a report on Wednesday. Jefferies Financial Group lifted their price target on shares of Suncor Energy from C$48.00 to C$53.00 in a research note on Monday, July 14th. Desjardins dropped their price target on shares of 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. Raymond James Financial lifted their price objective on shares of 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. Finally, Wells Fargo & Company raised their price objective on 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. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of C$62.62.

Suncor Energy Trading Down 0.9%

Suncor Energy stock traded down C$0.48 during mid-day trading on Thursday, hitting 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 debt-to-equity ratio of 33.35, a current ratio of 1.59 and a quick ratio of 0.83. The stock has a market cap of C$67.01 billion, a price-to-earnings ratio of 8.44, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The business has a 50 day moving average price of C$52.98 and a 200-day moving average price of C$52.33. Suncor Energy has a 12 month low of C$43.59 and a 12 month high of C$58.58.

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

Insiders Place Their Bets

In related news, Senior Officer Jacqueline Sue Moore sold 25,585 shares of Suncor Energy stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of C$55.99, for a total transaction 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 stock was bought at an average cost of C$50.41 per share, for a total transaction of C$504,100.00. 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.

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