Suncor Energy (TSE:SU) Stock Price Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Suncor Energy's stock price has recently crossed above its 200-day moving average of C$52.44, reaching a high of C$58.04 during trading.
• Analysts have set a consensus target price of C$63.67 for Suncor Energy, with ratings including one Strong Buy, five Buy, and five Hold.
• The company also announced a quarterly dividend of $0.57 per share, resulting in an annualized dividend yield of 3.9%.

Suncor Energy Inc. (TSE:SU - Get Free Report) NYSE: SU shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$52.44 and traded as high as C$58.04. Suncor Energy shares last traded at C$57.74, with a volume of 5,165,985 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently commented on SU shares. Gerdes Energy Research decreased their price objective on Suncor Energy from C$79.00 to C$77.00 in a report on Thursday, September 11th. Wells Fargo & Company increased their price objective on Suncor Energy from C$59.00 to C$60.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Raymond James Financial increased their price objective 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. Desjardins increased their price objective on Suncor Energy from C$64.00 to C$65.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, ATB Capital increased their price objective on Suncor Energy from C$60.00 to C$62.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$63.67.

Suncor Energy Stock Up 0.8%

The business has a fifty day moving average price of C$55.27 and a two-hundred day moving average price of C$52.44. 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 firm has a market capitalization of C$70.05 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 0.15 and a beta of 0.83.

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 for the quarter. Suncor Energy had a return on equity of 18.10% and a net margin of 15.15%. On average, equities analysts expect that Suncor Energy Inc. will post 4.4208333 earnings per share for the current year.

Suncor Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 25th will be paid a dividend of $0.57 per share. The ex-dividend date is Thursday, September 4th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.9%. Suncor Energy's dividend payout ratio (DPR) is presently 49.67%.

Insider Buying and Selling at Suncor Energy

In related news, Director Russell Girling acquired 10,000 shares of Suncor Energy stock in a transaction on Thursday, August 14th. The stock was acquired at an average price of C$53.48 per share, for a total transaction of C$534,790.00. Following the purchase, the director owned 45,000 shares of the company's stock, valued at approximately C$2,406,555. This represents a 28.57% increase in their position. Also, insider Kristopher Peter Smith sold 100,000 shares of Suncor Energy stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of C$57.57, for a total value of C$5,757,000.00. Following the transaction, the insider owned 48,482 shares of the company's stock, valued at C$2,791,108.74. The trade was a 67.35% decrease in their position. In the last three months, insiders have sold 139,542 shares of company stock worth $8,052,015. Insiders own 0.01% of the company's stock.

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.

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