Suncor Energy (TSE:SU) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• Suncor Energy's stock price has recently crossed above its 200-day moving average, now trading at C$53.86 after reaching a high of C$54.13.
• Analysts are mixed on Suncor's stock with target price changes; JPMorgan and TD Securities have reduced their targets while Wells Fargo has increased theirs, resulting in an average consensus target of C$62.00.
• The company declared a quarterly dividend of $0.57, which yields 4.2% annually, contributing to a payout ratio of 34.42%.

Suncor Energy Inc. (TSE:SU - Get Free Report) NYSE: SU's share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$52.42 and traded as high as C$54.13. Suncor Energy shares last traded at C$53.86, with a volume of 2,946,363 shares.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wells Fargo & Company raised 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. Desjardins 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 Thursday, May 8th. Jefferies Financial Group upped their price target on shares of Suncor Energy from C$48.00 to C$53.00 in a report on Monday, July 14th. Raymond James Financial boosted their price target on Suncor Energy from C$54.00 to C$56.00 and gave the stock a "market perform" rating in a report on Thursday, May 8th. Finally, Scotiabank upped their price objective on shares of Suncor Energy from C$57.00 to C$60.00 in a research report on Friday, July 11th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$62.00.

Suncor Energy Stock Down 1.4%

The company has a quick ratio of 0.83, a current ratio of 1.59 and a debt-to-equity ratio of 33.35. The company has a 50-day simple moving average of C$52.70 and a two-hundred day simple moving average of C$52.35. The stock has a market cap of C$67.55 billion, a P/E ratio of 8.50, a P/E/G ratio of 0.15 and a beta of 1.47.

Suncor Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 25th were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Wednesday, June 4th. Suncor Energy's dividend payout ratio (DPR) is presently 34.42%.

Insider Transactions at Suncor Energy

In other Suncor Energy news, Director Russell Girling bought 10,000 shares of the business's stock in a transaction on Friday, June 6th. The shares were acquired at an average cost of C$50.41 per share, for a total transaction of C$504,100.00. Also, Senior Officer Jacqueline Sue Moore sold 25,585 shares of the stock in a transaction 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. 0.01% of the stock is currently owned by corporate insiders.

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.