Raymond James Cuts Suncor Energy (TSE:SU) Price Target to C$55.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price target decreased by Raymond James from C$56.00 to C$55.00 in a research note published on Friday morning,BayStreet.CA reports.

SU has been the topic of a number of other research reports. Gerdes Energy Research set a C$69.00 price objective on Suncor Energy and gave the stock a “buy” rating in a report on Monday, November 25th. Wells Fargo & Company dropped their price objective on shares of Suncor Energy from C$66.00 to C$64.00 in a research note on Monday, December 9th. Jefferies Financial Group cut their price target on Suncor Energy from C$62.00 to C$55.00 and set a “hold” rating for the company in a report on Monday, September 16th. Scotiabank increased their price target on shares of Suncor Energy from C$59.00 to C$62.00 in a research note on Wednesday, November 13th. Finally, TD Securities boosted their target price on Suncor Energy from C$60.00 to C$62.00 in a report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$62.75.

Suncor Energy Price Performance

Shares of TSE:SU opened at C$52.37 on Friday. Suncor Energy has a one year low of C$41.30 and a one year high of C$58.28. The company has a 50-day simple moving average of C$54.62 and a 200-day simple moving average of C$53.33. The company has a debt-to-equity ratio of 34.98, a quick ratio of 0.83 and a current ratio of 1.46. The stock has a market capitalization of C$66.51 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 0.15 and a beta of 1.47.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 24th will be given a $0.57 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.55. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend is Tuesday, December 3rd. Suncor Energy’s dividend payout ratio (DPR) is presently 37.46%.

Insider Transactions at Suncor Energy

In related news, Senior Officer Shelley Powell sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of C$56.87, for a total transaction of C$2,843,700.00. Also, Senior Officer Kristopher Peter Smith sold 105,000 shares of Suncor Energy stock in a transaction on Monday, November 18th. The shares were sold at an average price of C$57.10, for a total value of C$5,995,185.00. Insiders own 0.01% of the company’s stock.

Suncor Energy Company Profile

Suncor Energy Inc is an integrated energy company. The company’s operations include oil sands development, production and upgrading, offshore oil and gas, petroleum refining in Canada and the U.S. and the company’s PetroCanada retail and wholesale distribution networks. The company is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen.