Suncor Energy (TSE:SU) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Suncor Energy (TSE:SU - Free Report) NYSE: SU had its price target boosted by JPMorgan Chase & Co. from C$59.00 to C$61.00 in a research report sent to investors on Friday,BayStreet.CA reports.

SU has been the topic of a number of other reports. Gerdes Energy Research set a C$69.00 target price on shares of Suncor Energy and gave the stock a "buy" rating in a report on Monday, November 25th. Desjardins raised Suncor Energy from a "hold" rating to a "moderate buy" rating in a research report on Thursday, November 14th. National Bankshares increased their price target on Suncor Energy from C$73.00 to C$76.00 in a report on Thursday, November 14th. 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. Finally, Scotiabank raised their target price on shares of Suncor Energy from C$59.00 to C$62.00 in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$62.75.

Suncor Energy Price Performance

Shares of SU traded down C$0.55 during mid-day trading on Friday, hitting C$52.37. 3,004,300 shares of the stock were exchanged, compared to its average volume of 8,227,344. The firm has a 50-day moving average of C$54.62 and a two-hundred day moving average of C$53.34. Suncor Energy has a 52-week low of C$41.30 and a 52-week high of C$58.28. The company has a market cap of C$66.51 billion, a PE ratio of 9.00, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The company has a debt-to-equity ratio of 34.98, a quick ratio of 0.83 and a current ratio of 1.46.

Suncor Energy Increases Dividend

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

Insiders Place Their Bets

In related news, Senior Officer Kristopher Peter Smith sold 105,000 shares of the company's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of C$57.10, for a total transaction of C$5,995,185.00. Also, Senior Officer Shelley Powell sold 50,000 shares of the business's stock in a transaction dated 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. 0.01% of the stock is owned by company insiders.

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.