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

Suncor Energy Inc. (TSE:SU) (NYSE:SU) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$52.98 and traded as high as C$53.50. Suncor Energy shares last traded at C$52.95, with a volume of 2,664,044 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have recently commented on SU. National Bankshares reduced their price target on shares of Suncor Energy from C$77.00 to C$73.00 in a research note on Friday, September 27th. Scotiabank decreased their target price on shares of Suncor Energy from C$61.00 to C$60.00 in a research note on Friday, July 12th. TD Securities raised their price target on Suncor Energy from C$59.00 to C$60.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating and set a C$62.00 price objective for the company in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group lowered their target price on Suncor Energy from C$62.00 to C$55.00 and set a “hold” rating on the stock in a report on Monday, September 16th. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$60.46.

Suncor Energy Trading Down 0.0 %

The firm has a market capitalization of C$67.25 billion, a P/E ratio of 9.10, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The stock’s 50-day simple moving average is C$52.75 and its two-hundred day simple moving average is C$52.98. 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 issued its earnings results on Tuesday, August 6th. The company reported C$1.27 earnings per share for the quarter, topping the consensus estimate of C$1.06 by C$0.21. Suncor Energy had a net margin of 14.87% and a return on equity of 17.68%. The company had revenue of C$13.04 billion during the quarter, compared to the consensus estimate of C$11.59 billion. Equities research analysts expect that Suncor Energy Inc. will post 4.4208333 EPS for the current year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 25th were given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Wednesday, September 4th. Suncor Energy’s payout ratio is currently 37.46%.

Insider Buying and Selling

In other Suncor Energy news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of C$56.54, for a total transaction of C$2,131,558.00. 0.01% of the stock is owned by company insiders.

Suncor Energy Company Profile

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.