Jefferies Financial Group Issues Pessimistic Forecast for Suncor Energy (TSE:SU) Stock Price

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective dropped by analysts at Jefferies Financial Group from C$62.00 to C$54.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s price objective points to a potential upside of 8.87% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. TD Securities increased their price objective on shares of Suncor Energy from C$60.00 to C$62.00 in a research note on Wednesday, November 13th. Royal Bank of Canada raised their price objective on Suncor Energy from C$64.00 to C$66.00 in a report on Thursday, November 14th. National Bankshares lowered their target price on Suncor Energy from C$76.00 to C$65.00 and set an “outperform” rating for the company in a report on Thursday. Desjardins raised Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Thursday, November 14th. Finally, Raymond James lowered their price objective on Suncor Energy from C$56.00 to C$55.00 in a research note on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$61.89.

Suncor Energy Stock Performance

Suncor Energy stock opened at C$49.60 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.46 and a debt-to-equity ratio of 34.98. The stock has a market cap of C$62.99 billion, a PE ratio of 8.52, a P/E/G ratio of 0.15 and a beta of 1.47. Suncor Energy has a 12-month low of C$41.88 and a 12-month high of C$58.28. The business’s 50-day moving average price is C$54.19 and its two-hundred day moving average price is C$53.18.

Insider Transactions at Suncor Energy

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

About Suncor Energy

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.