Suncor Energy (TSE:SU) Share Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Suncor Energy shares crossed above their 200-day moving average of C$83.57, reaching C$91.81 before last trading at C$90.79 on heavy volume.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and average price target of C$95.88, although some firms recently downgraded the stock to “Neutral” or “Hold.”
• Suncor reported quarterly EPS of C$3.17 on C$17.50 billion in revenue and maintains a quarterly dividend of C$0.60, equivalent to a 2.6% annual yield and a 44.49% payout ratio.

Shares of Suncor Energy Inc. (TSE:SU - Get Free Report) NYSE: SU crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$83.57 and traded as high as C$91.81. Suncor Energy shares last traded at C$90.79, with a volume of 4,800,542 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SU. Gerdes Energy Research lowered shares of Suncor Energy from a "buy" rating to a "neutral" rating and lifted their price target for the company from C$96.00 to C$97.00 in a report on Wednesday, July 22nd. JPMorgan Chase & Co. increased their target price on shares of Suncor Energy from C$105.00 to C$106.00 in a research report on Tuesday, May 12th. Royal Bank Of Canada boosted their price objective on shares of Suncor Energy from C$89.00 to C$100.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 8th. Desjardins set a C$107.00 target price on shares of Suncor Energy and gave the company a "buy" rating in a research note on Friday, July 17th. Finally, The Goldman Sachs Group downgraded shares of Suncor Energy from a "buy" rating to a "hold" rating in a research note on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of C$95.88.

Suncor Energy Trading Down 3.6%

The company has a debt-to-equity ratio of 32.36, a current ratio of 1.42 and a quick ratio of 0.83. The firm has a market capitalization of C$107.20 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 0.15 and a beta of 0.17. The business's 50-day moving average price is C$85.18 and its 200 day moving average price is C$83.57.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last posted its quarterly earnings data on Tuesday, August 4th. The company reported C$3.17 earnings per share (EPS) for the quarter. The company had revenue of C$17.50 billion for the quarter. Suncor Energy had a return on equity of 14.01% and a net margin of 12.17%. On average, equities analysts forecast that Suncor Energy Inc. will post 4.4208333 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 25th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, June 4th. Suncor Energy's dividend payout ratio (DPR) is 44.49%.

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. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.

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