Suncor Energy (TSE:SU) Price Target Raised to C$58.00

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU had its target price upped by Raymond James from C$57.00 to C$58.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has a "market perform" rating on the stock. Raymond James' target price points to a potential downside of 0.21% from the company's previous close. Raymond James also issued estimates for Suncor Energy's FY2029 earnings at $5.03 EPS.

Several other research firms have also recently weighed in on SU. National Bankshares increased their price objective on Suncor Energy from C$65.00 to C$68.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. UBS Group raised their price objective on Suncor Energy from C$61.00 to C$65.00 in a research note on Monday, November 18th. Gerdes Energy Research set a C$69.00 price objective on Suncor Energy and gave the company a "buy" rating in a research note on Monday, November 25th. Scotiabank raised their price objective on Suncor Energy from C$59.00 to C$62.00 in a research note on Wednesday, November 13th. Finally, Desjardins raised Suncor Energy from a "hold" rating to a "moderate buy" rating in a research note on Thursday, November 14th. Four equities research 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's stock. According to data from MarketBeat, Suncor Energy has an average rating of "Moderate Buy" and an average price target of C$62.54.

Suncor Energy Stock Up 2.7 %

Shares of Suncor Energy stock traded up C$1.55 on Friday, reaching C$58.12. 2,272,431 shares of the company were exchanged, compared to its average volume of 6,027,577. Suncor Energy has a one year low of C$42.43 and a one year high of C$58.58. The company has a market capitalization of C$73.81 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 0.15 and a beta of 1.47. The company has a current ratio of 1.46, a quick ratio of 0.83 and a debt-to-equity ratio of 34.98. The company has a 50-day moving average of C$54.00 and a 200 day moving average of C$53.77.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last posted its quarterly earnings results on Tuesday, November 12th. The company reported C$1.48 earnings per share for the quarter, beating analysts' consensus estimates of C$1.10 by C$0.38. Suncor Energy had a return on equity of 17.68% and a net margin of 14.87%. During the same period in the previous year, the firm posted $1.52 EPS. On average, equities research analysts forecast that Suncor Energy will post 4.4208333 earnings per share for the current year.

Insiders Place Their Bets

In related news, Senior Officer Shelley Powell sold 50,000 shares of the business's stock in a transaction on Thursday, November 14th. The stock was 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 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 value of C$5,995,185.00. 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.