Suncor Energy (TSE:SU) Share Price Crosses Below 200-Day Moving Average - Time to Sell?

Suncor Energy Inc. (TSE:SU - Get Free Report) NYSE: SU shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$52.75 and traded as low as C$48.95. Suncor Energy shares last traded at C$49.37, with a volume of 14,154,963 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SU. Wells Fargo & Company upped their target price on Suncor Energy from C$57.00 to C$59.00 in a research note on Thursday, May 22nd. Tudor Pickering raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 10th. Scotiabank raised Suncor Energy to a "hold" rating in a research note on Wednesday, March 19th. Jefferies Financial Group increased their price objective on Suncor Energy from C$58.00 to C$59.00 in a research note on Monday, February 24th. Finally, TD Securities dropped 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 note on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of C$62.58.

Suncor Energy Stock Performance

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 market cap of C$61.34 billion, a P/E ratio of 7.72, a P/E/G ratio of 0.15 and a beta of 1.47. The business has a fifty day moving average of C$49.34 and a 200 day moving average of C$52.66.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 25th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.66%. Suncor Energy's dividend payout ratio is presently 34.42%.

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.