GMP Securities Raises Suncor Energy (TSE:SU) Price Target to C$43.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price target hoisted by GMP Securities from C$39.00 to C$43.00 in a report released on Tuesday morning, BayStreet.CA reports.

Other analysts also recently issued research reports about the stock. National Bank Financial dropped their target price on shares of Suncor Energy from C$48.00 to C$47.00 and set a sector perform rating for the company in a research report on Thursday, October 31st. Evercore reduced their price target on shares of Suncor Energy from C$50.00 to C$45.00 in a research report on Thursday, October 10th. Royal Bank of Canada decreased their price objective on shares of Suncor Energy from C$50.00 to C$47.00 in a research note on Friday, October 18th. CSFB decreased their price objective on shares of Suncor Energy from C$52.00 to C$47.00 in a research note on Friday, November 22nd. Finally, CIBC dropped their price objective on shares of Suncor Energy from C$55.00 to C$53.00 in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of C$50.56.

TSE SU opened at C$40.82 on Tuesday. The firm has a market capitalization of $63.36 billion and a P/E ratio of 12.98. Suncor Energy has a 1-year low of C$35.53 and a 1-year high of C$46.50. The company has a debt-to-equity ratio of 39.15, a current ratio of 0.96 and a quick ratio of 0.58. The business’s 50-day simple moving average is C$41.13 and its 200-day simple moving average is C$40.47.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be paid a $0.42 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.12%. Suncor Energy’s dividend payout ratio (DPR) is currently 51.51%.

In other Suncor Energy news, Senior Officer Eric Charles Axford sold 95,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of C$43.09, for a total value of C$4,093,569.00. Also, Senior Officer Michael Roderick Macsween sold 20,000 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of C$42.41, for a total transaction of C$848,166.00.

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.

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