Royal Bank of Canada Trims Suncor Energy (TSE:SU) Target Price to C$64.00

Suncor Energy (TSE:SU) (NYSE:SU) had its target price reduced by Royal Bank of Canada from C$67.00 to C$64.00 in a report issued on Tuesday morning, BayStreet.CA reports.

Other analysts also recently issued research reports about the company. Raymond James lifted their target price on Suncor Energy from C$51.00 to C$52.00 and gave the company a market perform rating in a research report on Thursday, August 8th. Wolfe Research raised Suncor Energy to a strong-buy rating in a research report on Thursday, July 18th. National Bankshares lifted their target price on Suncor Energy from C$75.00 to C$77.00 in a research report on Thursday, August 8th. Desjardins boosted their price target on Suncor Energy from C$56.00 to C$59.00 and gave the stock a hold rating in a research report on Tuesday, July 23rd. Finally, TD Securities raised Suncor Energy from a hold rating to a buy rating and set a C$59.00 price target on the stock in a research report on Wednesday, August 7th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of C$61.25.

Suncor Energy Stock Performance

SU opened at C$50.47 on Tuesday. The business’s 50-day moving average price is C$53.08 and its two-hundred day moving average price is C$52.21. Suncor Energy has a 1 year low of C$40.07 and a 1 year high of C$57.32. The company has a market capitalization of C$64.10 billion, a price-to-earnings ratio of 8.67, a P/E/G ratio of 0.15 and a beta of 1.49. The company has a debt-to-equity ratio of 34.98, a current ratio of 1.46 and a quick ratio of 0.83.

Suncor Energy (TSE:SU) (NYSE:SU) last released its earnings results on Tuesday, August 6th. The company reported C$1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.06 by C$0.21. The business had revenue of C$13.04 billion for the quarter, compared to the consensus estimate of C$11.59 billion. Suncor Energy had a return on equity of 17.68% and a net margin of 14.87%. Equities analysts expect that Suncor Energy will post 4.2058333 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 25th will be issued a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date is Wednesday, September 4th. Suncor Energy’s dividend payout ratio is presently 37.46%.

Insider Transactions at Suncor Energy

In other news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of C$56.54, for a total transaction of C$2,131,558.00. In related news, Senior Officer Kristopher Peter Smith sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of C$51.66, for a total value of C$5,165,900.00. Also, Senior Officer Jacqueline Sue Moore sold 37,700 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of C$56.54, for a total value of C$2,131,558.00. Corporate insiders own 0.01% of the company’s stock.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.