Suncor Energy (TSE:SU) Stock Crosses Below 200-Day Moving Average - Here's Why

Suncor Energy Inc. (TSE:SU - Get Free Report) NYSE: SU crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$53.06 and traded as low as C$50.44. Suncor Energy shares last traded at C$50.86, with a volume of 12,475,132 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SU shares. Gerdes Energy Research set a C$69.00 target price on shares of Suncor Energy and gave the company a "buy" rating in a research note on Monday, November 25th. JPMorgan Chase & Co. raised their target price on shares of Suncor Energy from C$59.00 to C$61.00 in a report on Friday, December 13th. National Bankshares cut their target price on shares of Suncor Energy from C$76.00 to C$65.00 and set an "outperform" rating for the company in a research report on Thursday, December 19th. Scotiabank increased their price target on Suncor Energy from C$59.00 to C$62.00 in a report on Wednesday, November 13th. Finally, Wells Fargo & Company dropped their price target on Suncor Energy from C$66.00 to C$64.00 in a research note on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Suncor Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of C$61.89.

Suncor Energy Stock Performance

The business's fifty day moving average is C$53.86 and its two-hundred day moving average is C$53.07. The stock has a market capitalization of C$64.59 billion, a PE ratio of 8.74, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The company has a quick ratio of 0.83, a current ratio of 1.46 and a debt-to-equity ratio of 34.98.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 24th were given a dividend of $0.57 per share. The ex-dividend date was Tuesday, December 3rd. This is an increase from Suncor Energy's previous quarterly dividend of $0.55. This represents a $2.28 dividend on an annualized basis and a yield of 4.48%. Suncor Energy's dividend payout ratio is 37.46%.

Insider Transactions at Suncor Energy

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

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.