Suncor Energy (TSE:SU) Price Target Raised to C$60.00 at Wells Fargo & Company

Suncor Energy (TSE:SU - Free Report) NYSE: SU had its price objective hoisted by Wells Fargo & Company from C$59.00 to C$60.00 in a report released on Thursday,BayStreet.CA reports. The firm currently has an overweight rating on the stock.

SU has been the subject of a number of other research reports. Scotiabank raised shares of Suncor Energy to a "hold" rating in a research note on Wednesday, March 19th. Raymond James Financial raised their target price on shares of Suncor Energy from C$54.00 to C$56.00 and gave the company a "market perform" rating in a research note on Thursday, May 8th. Desjardins decreased their target price on shares of Suncor Energy from C$63.00 to C$62.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. TD Securities decreased their target price on shares of Suncor Energy from C$63.00 to C$62.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. decreased their target price on shares of 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. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$62.67.

Suncor Energy Stock Down 0.6%

Shares of Suncor Energy stock traded down C$0.30 during trading on Thursday, hitting C$51.46. The company's stock had a trading volume of 11,855,674 shares, compared to its average volume of 8,757,449. Suncor Energy has a 52 week low of C$43.59 and a 52 week high of C$58.58. The company has a market capitalization of C$64.54 billion, a PE ratio of 8.13, a P/E/G ratio of 0.15 and a beta of 1.47. The company has a fifty day simple moving average of C$50.54 and a two-hundred day simple moving average of C$52.22. The company has a debt-to-equity ratio of 33.35, a quick ratio of 0.83 and a current ratio of 1.59.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 25th were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Wednesday, June 4th. Suncor Energy's payout ratio is 34.42%.

Insider Activity

In related news, Senior Officer Jacqueline Sue Moore sold 25,585 shares of the firm's stock in a transaction that occurred 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 company's stock in a transaction that occurred 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.