Suncor Energy Inc. (SU) Given New C$40.00 Price Target at RBC Capital

Suncor Energy Inc. (TSE:SU) had its target price cut by equities research analysts at RBC Capital from C$41.00 to C$40.00 in a report released on Friday, StockTargetPrices.com reports. RBC Capital’s price target points to a potential upside of 12.04% from the stock’s current price.

Shares of Suncor Energy (TSE:SU) traded up 0.59% during trading on Friday, reaching $35.91. 464,694 shares of the company’s stock were exchanged. The stock’s market capitalization is $56.81 billion. The company’s 50-day moving average is $35.44 and its 200 day moving average is $34.66. Suncor Energy has a 52 week low of $27.32 and a 52 week high of $40.35.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, June 3rd will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.25%.

A number of other research analysts have also commented on the company. Raymond James upped their price target on Suncor Energy from C$40.00 to C$41.00 and gave the stock an “outperform” rating in a report on Friday, April 29th. National Bank Financial upped their target price on Suncor Energy from C$36.00 to C$37.00 in a research note on Friday, April 29th. TD Securities upped their target price on Suncor Energy from C$38.00 to C$39.00 and gave the company a “hold” rating in a research note on Thursday, April 28th. BMO Capital Markets upped their target price on Suncor Energy from C$40.00 to C$42.00 and gave the company an “outperform” rating in a research note on Thursday, April 28th. Finally, Desjardins upped their target price on Suncor Energy from C$35.00 to C$37.00 in a research note on Friday, April 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Suncor Energy has a consensus rating of “Hold” and a consensus target price of C$39.13.

Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.