Suncor Energy (TSE:SU) Given New C$68.00 Price Target at National Bankshares

Key Points

• National Bankshares has raised its price target for Suncor Energy from C$65.00 to C$68.00, indicating a potential upside of 26.30% from its current price.
• Other analysts have also increased their price targets, with an average target price for Suncor Energy now at C$63.58 and an average rating of "Moderate Buy."
• Insider selling has been noted, with significant sales totaling over C$8 million in the past 90 days, with insiders currently owning only 0.01% of the stock.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU had its price target raised by analysts at National Bankshares from C$65.00 to C$68.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. National Bankshares' price target suggests a potential upside of 26.30% from the stock's current price.

A number of other research analysts have also issued reports on SU. Jefferies Financial Group boosted their price target on shares of Suncor Energy from C$53.00 to C$57.00 in a research note on Monday, August 18th. TD Securities boosted their price objective on shares of Suncor Energy from C$62.00 to C$63.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Royal Bank Of Canada upped their price target on shares of Suncor Energy from C$62.00 to C$67.00 and gave the company an "outperform" rating in a report on Tuesday, October 7th. Raymond James Financial upped their price objective on shares of Suncor Energy from C$57.00 to C$58.00 and gave the company a "market perform" rating in a research note on Thursday, August 7th. Finally, Scotiabank upped 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 research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of C$63.58.

Suncor Energy Stock Performance

Shares of Suncor Energy stock traded up C$0.33 on Wednesday, reaching C$53.84. 1,223,915 shares of the stock were exchanged, compared to its average volume of 7,825,509. Suncor Energy has a 1-year low of C$43.59 and a 1-year high of C$60.48. The company has a current ratio of 1.59, a quick ratio of 0.83 and a debt-to-equity ratio of 33.35. The business has a fifty day moving average price of C$56.44 and a two-hundred day moving average price of C$52.93. The firm has a market capitalization of C$66.09 billion, a PE ratio of 11.86, a PEG ratio of 0.15 and a beta of 0.76.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last issued its quarterly earnings results 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, research analysts anticipate that Suncor Energy will post 4.4208333 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Adam Husain Albeldawi sold 5,000 shares of Suncor Energy stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of C$58.44, for a total value of C$292,200.00. Also, insider Shelley Powell sold 30,000 shares of Suncor Energy stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of C$58.06, for a total transaction of C$1,741,650.00. Following the completion of the transaction, the insider directly owned 27,705 shares in the company, valued at approximately C$1,608,413.78. This trade represents a 51.99% decrease in their ownership of the stock. Insiders have sold 139,542 shares of company stock worth $8,052,015 in the last 90 days. 0.01% of the stock is currently owned by corporate insiders.

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.

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