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

Suncor Energy Inc. (TSE:SU - Get Free Report) NYSE: SU's stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$52.37 and traded as high as C$54.15. Suncor Energy shares last traded at C$53.56, with a volume of 3,372,585 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. TD Securities reduced their target price 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 raised their price target on shares of 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. Scotiabank upped their price objective on shares of Suncor Energy from C$57.00 to C$60.00 in a research note on Friday, July 11th. Desjardins dropped their price objective 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, Wells Fargo & Company upped their target price on shares of Suncor Energy from C$59.00 to C$60.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of C$62.00.

Suncor Energy Stock Down 0.7%

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 market cap of C$66.86 billion, a P/E ratio of 8.42, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The stock has a fifty day moving average price of C$51.81 and a two-hundred day moving average price of C$52.40.

Suncor Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 25th were issued a $0.57 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $2.28 dividend on an annualized basis and a yield of 4.28%. Suncor Energy's dividend payout ratio (DPR) is 34.42%.

Insider Activity at Suncor Energy

In other Suncor Energy news, Director Russell Girling acquired 10,000 shares of the stock in a transaction dated 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 transaction of C$1,432,478.57. 0.01% of the stock is owned by 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.