Suncor Energy Inc. operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada. It operates through Oil Sands; Exploration and Production; Refining and Marketing; and Corporate and Eliminations segments. The Oil Sands segment recovers bitumen from mining and in situ operations, and upgrades it into refinery feedstock and diesel fuel, or blends the bitumen with diluent for direct sale to market. The Exploration and Production segment is involved in offshore operations off the east coast of Canada and in the North Sea; and operating onshore assets in Libya and Syria. The Refining and Marketing segment refines crude oil and intermediate feedstock into various petroleum and petrochemical products; and markets refined petroleum products to retail, commercial, and industrial customers through its other retail sellers. The Corporate and Eliminations segment operates four wind farms in Ontario and Western Canada. The company also markets and trades in crude oil, natural gas, byproducts, refined products, and power. The company was formerly known as Suncor Inc. and changed its name to Suncor Energy Inc. in April 1997. Suncor Energy Inc. was founded in 1917 and is headquartered in Calgary, Canada.
Analysts Set New Price Targets
Several research firms recently commented on SU. National Bank Financial reduced their price objective on shares of Suncor Energy from C$73.00 to C$64.00 in a research note on Monday, July 18th. Royal Bank of Canada upgraded shares of Suncor Energy from a "sector perform" rating to an "outperform" rating in a research note on Tuesday, June 21st. Raymond James lowered shares of Suncor Energy from an "outperform" rating to a "market perform" rating in a research note on Monday, July 11th. The Goldman Sachs Group upped their price target on shares of Suncor Energy from $38.00 to $43.00 and gave the company a "buy" rating in a research note on Friday, May 20th. Finally, Scotiabank upped their price target on shares of Suncor Energy from C$46.00 to C$57.00 in a research note on Wednesday, June 8th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.38.
Suncor Energy Stock Up 2.8 %
SU Stock opened at $32.75 on Friday. The company has a market capitalization of $45.20 billion, a P/E ratio of 6.33, a price-to-earnings-growth ratio of 0.48 and a beta of 1.26. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.14 and a quick ratio of 0.75. The firm's fifty day simple moving average is $34.27 and its 200-day simple moving average is $33.44. Suncor Energy has a 12 month low of $17.10 and a 12 month high of $42.72.
Suncor Energy Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 26th. Investors of record on Friday, September 2nd will be paid a $0.3656 dividend. This represents a $1.46 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Thursday, September 1st. This is a positive change from Suncor Energy's previous quarterly dividend of $0.36. Suncor Energy's payout ratio is currently 28.82%.