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.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on SU. Raymond James cut shares of Suncor Energy from an "outperform" rating to a "market perform" rating in a report on Monday, July 11th. The Goldman Sachs Group raised their price objective on shares of Suncor Energy from $38.00 to $43.00 and gave the company a "buy" rating in a report on Friday, May 20th. Credit Suisse Group reiterated an "outperform" rating and issued a $63.00 price objective on shares of Suncor Energy in a report on Thursday, August 11th. Royal Bank of Canada raised shares of Suncor Energy from a "sector perform" rating to an "outperform" rating in a research report on Tuesday, June 21st. Finally, Scotiabank increased their target price on shares of Suncor Energy from C$46.00 to C$57.00 in a research report on Wednesday, June 8th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $51.38.
Suncor Energy Trading Down 1.2 %
Shares of SU Stock traded down $0.41 during trading hours on Friday, hitting $32.62. 3,815,946 shares of the company were exchanged, compared to its average volume of 8,004,573. The firm has a market cap of $45.02 billion, a P/E ratio of 6.39, a P/E/G ratio of 0.51 and a beta of 1.26. Suncor Energy has a fifty-two week low of $17.26 and a fifty-two week high of $42.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.74 and a current ratio of 1.14. The company has a 50 day simple moving average of $33.34 and a two-hundred day simple moving average of $33.59.
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 given a $0.3656 dividend. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $1.46 annualized dividend and a yield of 4.48%. This is an increase from Suncor Energy's previous quarterly dividend of $0.36. Suncor Energy's dividend payout ratio (DPR) is presently 28.82%.