Suncor Energy (TSE:SU) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

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 target price hoisted by stock analysts 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 suggests a potential upside of 6.98% from the stock's current price.

Several other research firms have also recently issued reports on SU. ATB Capital upped their price objective on Suncor Energy from C$60.00 to C$62.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Scotiabank increased their price objective on Suncor Energy from C$60.00 to C$62.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 6th. Raymond James Financial lifted their price target on Suncor Energy from C$57.00 to C$58.00 and gave the company a "market perform" rating in a research note on Thursday, August 7th. TD Securities raised their price objective on Suncor Energy from C$62.00 to C$63.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, Desjardins raised their price objective on Suncor Energy from C$64.00 to C$65.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$63.00.

Suncor Energy Trading Down 0.8%

TSE:SU traded down C$0.43 on Monday, reaching C$53.28. The company's stock had a trading volume of 1,084,874 shares, compared to its average volume of 7,850,146. Suncor Energy has a 12-month low of C$43.59 and a 12-month high of C$58.58. 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 firm has a market cap of C$66.83 billion, a price-to-earnings ratio of 8.41, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The stock has a 50 day moving average price of C$53.51 and a 200 day moving average price of C$52.17.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last announced its quarterly earnings data 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 EPS for the current fiscal year.

Insider Activity

In other news, Director Russell Girling purchased 10,000 shares of the company's stock in a transaction on Friday, June 6th. The stock was bought 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 company's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of C$55.99, for a total value of C$1,432,478.57. Corporate 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.

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