Suncor Energy (TSE:SU) Shares Cross Above 200 Day Moving Average - Here's What Happened

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 stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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.

Analyst Upgrades and Downgrades

Several research firms have commented on SU. TD Securities decreased 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 Wednesday, May 7th. JPMorgan Chase & Co. lowered their price objective on Suncor Energy from C$63.00 to C$62.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Raymond James Financial boosted their price objective on Suncor Energy from C$54.00 to C$56.00 and gave the company a "market perform" rating in a research report on Thursday, May 8th. Wells Fargo & Company boosted 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. Finally, Desjardins lowered their price objective on Suncor Energy from C$63.00 to C$62.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Suncor Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of C$62.00.

Suncor Energy Stock Up 0.4%

The company has a market capitalization of C$67.93 billion, a PE ratio of 8.55, a P/E/G ratio of 0.15 and a beta of 1.47. 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 company has a 50-day moving average of C$52.06 and a two-hundred day moving average of C$52.45.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 25th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend was Wednesday, June 4th. Suncor Energy's dividend payout ratio is currently 34.42%.

Insider Buying and Selling at Suncor Energy

In other Suncor Energy news, Director Russell Girling purchased 10,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was purchased 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 Suncor Energy stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of C$55.99, for a total value of C$1,432,478.57. 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.

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