Suncor Energy (TSE:SU) Price Target Raised to C$57.00 at Jefferies Financial Group

Key Points

• The target price for Suncor Energy has been raised by Jefferies Financial Group from C$53.00 to C$57.00, indicating a potential upside of 6.98%.
• Several analysts have increased their price targets for the stock, with the consensus price target now at C$63.00 and a consensus rating of "Moderate Buy".
• Suncor Energy's recent quarterly earnings showed an earnings per share (EPS) of C$0.71, and analysts predict an EPS of 4.42 for the current fiscal year.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU had its price target upped by equities researchers at Jefferies Financial Group from C$53.00 to C$57.00 in a report released on Monday,BayStreet.CA reports. Jefferies Financial Group's target price points to a potential upside of 3.11% from the company's current price.

Other equities research analysts also recently issued reports about the stock. Scotiabank raised their target price on shares of Suncor Energy from C$60.00 to C$62.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 6th. Desjardins increased their target price on Suncor Energy from C$64.00 to C$65.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. ATB Capital upped their price target on shares of Suncor Energy from C$60.00 to C$62.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Wells Fargo & Company boosted their price target on Suncor Energy from C$59.00 to C$60.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Finally, Raymond James Financial raised their target price on Suncor Energy from C$57.00 to C$58.00 and gave the company a "market perform" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of C$63.00.

Suncor Energy Trading Up 1.8%

Suncor Energy stock traded up C$0.99 during mid-day trading on Monday, hitting C$55.28. 8,059,714 shares of the company's stock were exchanged, compared to its average volume of 7,824,957. 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's 50 day simple moving average is C$53.62 and its 200-day simple moving average is C$52.17. Suncor Energy has a fifty-two week low of C$43.59 and a fifty-two week high of C$58.58. The firm has a market capitalization of C$69.33 billion, a P/E ratio of 8.73, a PEG ratio of 0.15 and a beta of 1.47.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last announced its earnings results 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%. On average, equities analysts anticipate that Suncor Energy will post 4.4208333 earnings per share for the current year.

Insider Activity

In related news, Senior Officer Jacqueline Sue Moore sold 25,585 shares of the business's 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. Also, Director Russell Girling bought 10,000 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were acquired at an average price of C$50.41 per share, for a total transaction of C$504,100.00. 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.