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

Key Points

• Suncor Energy's stock price recently surpassed its 200-day moving average, with shares trading up to C$54.35 before closing at C$54.16.
• Analysts have mixed views, with some like TD Securities and JPMorgan lowering their price targets to C$62.00, while Raymond James and Wells Fargo have increased their targets.
• The company announced a quarterly dividend of $0.57, yielding 4.21%, and has a debt-to-equity ratio of 33.35.

Suncor Energy Inc. (TSE:SU - Get Free Report) NYSE: SU's share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$52.45 and traded as high as C$54.35. Suncor Energy shares last traded at C$54.16, with a volume of 3,696,153 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on Suncor Energy from C$59.00 to C$60.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Jefferies Financial Group upped their price objective on Suncor Energy from C$48.00 to C$53.00 in a report on Monday, July 14th. TD Securities cut 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 report on Wednesday, May 7th. Desjardins dropped their target price on Suncor Energy from C$63.00 to C$62.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Suncor Energy from C$63.00 to C$62.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$62.00.

Suncor Energy Stock Up 0.0%

The firm's 50-day moving average price is C$52.24 and its 200 day moving average price is C$52.41. The company has a market capitalization of C$68.88 billion, a price-to-earnings ratio of 8.67, a PEG ratio of 0.15 and a beta of 1.47. The company has a current ratio of 1.59, a quick ratio of 0.83 and a debt-to-equity ratio of 33.35.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 25th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend was Wednesday, June 4th. Suncor Energy's dividend payout ratio is presently 34.42%.

Insider Buying and Selling at Suncor Energy

In other news, Senior Officer Jacqueline Sue Moore sold 25,585 shares of Suncor Energy stock in a transaction on 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 bought 10,000 shares of the stock in a transaction dated 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. Company 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.