Wells Fargo & Company Issues Positive Forecast for Suncor Energy (TSE:SU) Stock Price

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU had its price objective lifted by equities research analysts at Wells Fargo & Company from C$59.00 to C$60.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's target price would suggest a potential upside of 15.72% from the company's previous close.

A number of other brokerages have also weighed in on SU. TD Securities decreased their price target on shares of Suncor Energy from C$63.00 to C$62.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Scotiabank raised Suncor Energy to a "hold" rating in a research report on Wednesday, March 19th. Desjardins lowered their price target on Suncor Energy from C$63.00 to C$62.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. JPMorgan Chase & Co. dropped their price target on Suncor Energy from C$63.00 to C$62.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, Raymond James Financial raised their price objective on 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. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$62.67.

Suncor Energy Trading Down 0.5%

Shares of Suncor Energy stock traded down C$0.24 during mid-day trading on Thursday, hitting C$51.85. 2,557,396 shares of the stock were exchanged, compared to its average volume of 8,693,643. The stock has a market capitalization of C$65.03 billion, a price-to-earnings ratio of 8.19, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. Suncor Energy has a twelve month low of C$43.59 and a twelve month high of C$58.58. The company has a current ratio of 1.59, a quick ratio of 0.83 and a debt-to-equity ratio of 33.35. The company has a 50-day simple moving average of C$50.39 and a 200 day simple moving average of C$52.25.

Insider Activity at Suncor Energy

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.