Suncor Energy (TSE:SU) Upgraded by Wells Fargo & Company to "Equal Weight" Rating

Key Points

• Suncor Energy has been upgraded to a "hold" rating by Wells Fargo & Company, with multiple analysts adjusting their target prices, signaling increased confidence in the stock.
• The consensus rating for Suncor Energy is currently "Moderate Buy," with a target price of C$63.58 reflecting analysts' expectations for performance.
• Recent insider activity includes a significant sale by Kristopher Peter Smith, reducing his ownership by 67.35%, while Director Russell Girling increased his stake, suggesting differing perspectives on company outlook.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU was upgraded by equities research analysts at Wells Fargo & Company to an "equal weight" rating in a note issued to investors on Thursday, Marketbeat Ratings reports.

A number of other equities analysts also recently issued reports on SU. TD Securities upped their price target on Suncor Energy from C$62.00 to C$63.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Raymond James Financial upped their price target 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. Scotiabank upped their price target on Suncor Energy from C$60.00 to C$62.00 and gave the company a "sector perform" rating in a report on Wednesday, August 6th. Desjardins upped their price target 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, Gerdes Energy Research lowered their price target on Suncor Energy from C$79.00 to C$77.00 in a report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of C$63.58.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at C$54.04 on Thursday. Suncor Energy has a one year low of C$43.59 and a one year high of C$60.48. The company has a market cap of C$66.34 billion, a PE ratio of 11.90, a P/E/G ratio of 0.15 and a beta of 0.76. The company has a debt-to-equity ratio of 33.35, a quick ratio of 0.83 and a current ratio of 1.59. The business has a 50-day simple moving average of C$56.44 and a 200-day simple moving average of C$52.87.

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 EPS for the quarter. Suncor Energy had a return on equity of 18.10% and a net margin of 15.15%. On average, equities research analysts forecast that Suncor Energy will post 4.4208333 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kristopher Peter Smith sold 100,000 shares of Suncor Energy stock in a transaction on 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 directly 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. Also, Director Russell Girling bought 10,000 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was acquired at an average cost of C$53.48 per share, for a total transaction of C$534,790.00. Following the completion of the acquisition, the director directly owned 45,000 shares in the company, valued at approximately C$2,406,555. This trade represents a 28.57% increase in their ownership of the stock. Over the last ninety days, insiders sold 139,542 shares of company stock worth $8,052,015. Corporate 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.