Suncor Energy (TSE:SU) Share Price Crosses Above 200 Day Moving Average - What's Next?

Suncor Energy Inc. (TSE:SU - Get Free Report) NYSE: SU passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$52.26 and traded as high as C$56.33. Suncor Energy shares last traded at C$55.99, with a volume of 8,156,171 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently 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 for the company in a report on Wednesday, May 7th. Raymond James Financial lifted their price target on shares of Suncor Energy from C$54.00 to C$56.00 and gave the company a "market perform" rating in a report on Thursday, May 8th. Wells Fargo & Company lifted their price target on shares of Suncor Energy from C$57.00 to C$59.00 in a report on Thursday, May 22nd. Desjardins decreased their price target on shares of Suncor Energy from C$63.00 to C$62.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, Scotiabank raised shares of Suncor Energy to a "hold" rating in a report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$62.58.

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 business's 50 day simple moving average is C$50.02 and its 200-day simple moving average is C$52.28. The stock has a market capitalization of C$69.23 billion, a price-to-earnings ratio of 8.72, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 25th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date is Wednesday, June 4th. Suncor Energy's dividend payout ratio is currently 34.42%.

Insider Transactions at Suncor Energy

In other news, Senior Officer Jacqueline Sue Moore sold 25,585 shares of the company's stock in a transaction that occurred on 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. Also, Director Russell Girling purchased 10,000 shares of Suncor Energy stock in a transaction dated Friday, June 6th. The stock was bought at an average cost of C$50.41 per share, with a total value of C$504,100.00. Company insiders own 0.01% of the company's stock.

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.