Suncor Energy (TSE:SU) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Shares of Suncor Energy Inc. (TSE:SU) (NYSE:SU) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$52.93 and traded as high as C$54.38. Suncor Energy shares last traded at C$54.11, with a volume of 1,969,151 shares traded.

Analyst Ratings Changes

Several research firms have weighed in on SU. Jefferies Financial Group lowered their price objective on Suncor Energy from C$62.00 to C$55.00 and set a “hold” rating on the stock in a research report on Monday, September 16th. Scotiabank lowered their price objective on Suncor Energy from C$61.00 to C$60.00 in a research report on Friday, July 12th. Raymond James set a C$52.00 price target on Suncor Energy in a research report on Tuesday, October 15th. Royal Bank of Canada decreased their price target on Suncor Energy from C$67.00 to C$64.00 in a research report on Tuesday, September 17th. Finally, National Bankshares decreased their price target on Suncor Energy from C$77.00 to C$73.00 in a research report on Friday, September 27th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and an average target price of C$60.46.

Suncor Energy Stock Performance

The firm has a market capitalization of C$68.72 billion, a P/E ratio of 9.30, a P/E/G ratio of 0.15 and a beta of 1.47. The stock has a fifty day simple moving average of C$53.11 and a two-hundred day simple moving average of C$52.93. 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 quarterly earnings data on Tuesday, August 6th. The company reported C$1.27 EPS for the quarter, beating the consensus estimate of C$1.06 by C$0.21. The firm had revenue of C$13.04 billion during 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%. On average, research analysts predict that Suncor Energy Inc. will post 4.4208333 EPS for the current year.

Suncor Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th were given a dividend of $0.545 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $2.18 annualized dividend and a dividend yield of 4.03%. Suncor Energy’s payout ratio is 37.46%.

Insiders Place Their Bets

In other news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of the company’s stock in a transaction 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. Insiders own 0.01% of the company’s stock.

About Suncor Energy

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.