Suncor Energy (TSE:SU) Shares Pass Above 200 Day Moving Average - Should You Sell?

Key Points

• Suncor Energy's share price has surpassed its 200-day moving average, currently trading at C$54.95 with a volume of over 3.4 million shares.
• Multiple analysts have revised their price targets for Suncor Energy, with a consensus rating of "Moderate Buy" and an average target price of C$63.83.
• The company has declared a quarterly dividend of $0.57 per share, equating to an annualized yield of 4.1%, and holds a dividend payout ratio of 49.67%.

Suncor Energy Inc. (TSE:SU - Get Free Report) NYSE: SU's share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$52.92 and traded as high as C$56.04. Suncor Energy shares last traded at C$54.95, with a volume of 3,460,629 shares changing hands.

Analysts Set New Price Targets

SU has been the subject of a number of research analyst reports. Scotiabank lifted their price target on Suncor Energy from C$60.00 to C$62.00 and gave the company a "sector perform" rating in a report on Wednesday, August 6th. Gerdes Energy Research dropped their price objective on Suncor Energy from C$79.00 to C$77.00 in a report on Thursday, September 11th. Desjardins boosted their price objective on Suncor Energy from C$64.00 to C$65.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Royal Bank Of Canada boosted their price objective on Suncor Energy from C$62.00 to C$67.00 and gave the stock an "outperform" rating in a report on Tuesday, October 7th. Finally, Jefferies Financial Group boosted their price objective on Suncor Energy from C$53.00 to C$57.00 in a report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of C$63.83.

Suncor Energy Price Performance

The company has a debt-to-equity ratio of 33.35, a quick ratio of 0.83 and a current ratio of 1.59. The company has a 50-day moving average of C$56.42 and a 200-day moving average of C$52.92. The firm has a market capitalization of C$67.46 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 0.15 and a beta of 0.76.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last issued its quarterly earnings data 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 Inc. will post 4.4208333 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 25th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $2.28 dividend on an annualized basis and a yield of 4.1%. Suncor Energy's dividend payout ratio is 49.67%.

Insider Activity

In other Suncor Energy news, insider David Jason Oldreive sold 4,542 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of C$57.50, for a total transaction of C$261,165.00. Also, insider Kristopher Peter Smith sold 100,000 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of C$57.57, for a total value of C$5,757,000.00. Following the transaction, the insider directly owned 48,482 shares of the company's stock, valued at approximately C$2,791,108.74. This trade represents a 67.35% decrease in their position. Over the last quarter, insiders have sold 139,542 shares of company stock worth $8,052,015. 0.01% of the stock is currently owned by 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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