Suncor Energy (TSE:SU) Price Target Raised to C$65.00

Key Points

• Desjardins raised the price target for Suncor Energy from C$64.00 to C$65.00, indicating a potential upside of 21.65% based on the current stock price.
• Investment analysts have mixed ratings on Suncor Energy, with five analysts suggesting a hold, seven recommending a buy, and one issuing a strong buy, resulting in an average rating of "Moderate Buy."
• Suncor Energy reported a quarterly earnings per share (EPS) of C$0.71 and has a market capitalization of C$67.01 billion with a PE ratio of 8.44.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU had its price target upped by Desjardins from C$64.00 to C$65.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Desjardins' price objective would suggest a potential upside of 21.65% from the stock's current price.

Several other equities analysts have also weighed in on SU. ATB Capital lifted their price objective on Suncor Energy from C$60.00 to C$62.00 and gave the company a "sector perform" rating in a research note on Thursday. JPMorgan Chase & Co. reduced their price objective 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. Scotiabank raised their target price on Suncor Energy from C$60.00 to C$62.00 and gave the company a "sector perform" rating in a report on Wednesday. Wells Fargo & Company increased their price objective on shares of 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. Finally, Jefferies Financial Group increased their price objective on shares of Suncor Energy from C$48.00 to C$53.00 in a research report on Monday, July 14th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of C$62.62.

Suncor Energy Price Performance

TSE:SU traded down C$0.48 during trading hours 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 business's 50-day moving average is C$52.98 and its two-hundred day moving average is C$52.33. The company has a market capitalization of C$67.01 billion, a PE ratio of 8.44, a PEG 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 52-week low of C$43.59 and a 52-week high of C$58.58.

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 return on equity of 18.10% and a net margin of 15.15%. As a group, research analysts anticipate that Suncor Energy will post 4.4208333 EPS for the current fiscal year.

Insiders Place Their Bets

In other Suncor Energy news, Director Russell Girling acquired 10,000 shares of the company's stock in a transaction dated 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. Also, Senior Officer Jacqueline Sue Moore sold 25,585 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of C$55.99, for a total value of C$1,432,478.57. 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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