Suncor Energy Inc. (SU) Receives C$56.07 Consensus Price Target from Brokerages

Shares of Suncor Energy Inc. (TSE:SU) (NYSE:SU) have been assigned a consensus rating of “Buy” from the sixteen research firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is C$56.07.

A number of brokerages have recently issued reports on SU. AltaCorp Capital cut Suncor Energy from an “outperform” rating to a “sector perform” rating in a report on Tuesday, June 12th. TD Securities boosted their target price on Suncor Energy from C$57.00 to C$58.00 and gave the stock a “buy” rating in a report on Friday, June 8th. Citigroup boosted their target price on Suncor Energy from C$50.00 to C$60.00 in a report on Wednesday, May 23rd. Raymond James boosted their target price on Suncor Energy from C$60.00 to C$61.00 in a report on Tuesday, May 22nd. Finally, UBS Group boosted their target price on Suncor Energy from C$50.00 to C$62.00 in a report on Tuesday, May 22nd.

TSE SU opened at C$53.50 on Friday. Suncor Energy has a 12 month low of C$36.09 and a 12 month high of C$54.39.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its quarterly earnings data on Tuesday, May 1st. The company reported C$0.60 EPS for the quarter, beating the Zacks’ consensus estimate of C$0.57 by C$0.03. Suncor Energy had a net margin of 15.36% and a return on equity of 12.21%. The company had revenue of C$8.75 billion during the quarter, compared to the consensus estimate of C$9.08 billion.

The business also recently declared a quarterly dividend, which was paid on Monday, June 25th. Shareholders of record on Monday, June 4th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Friday, June 1st.

In other Suncor Energy news, insider Eric Charles Axford sold 95,000 shares of the company’s stock in a transaction that occurred on Friday, June 22nd. The stock was sold at an average price of C$53.77, for a total value of C$5,108,150.00. Also, insider Paul Douglas Gardner sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of C$50.00, for a total value of C$2,000,000.00. In the last 90 days, insiders sold 315,000 shares of company stock valued at $16,591,550.

About Suncor Energy

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, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.

Analyst Recommendations for Suncor Energy (TSE:SU)

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