Suncor Energy (TSE:SU) Shares Cross Below 200-Day Moving Average – Should You Sell?

Suncor Energy Inc. (TSE:SU) (NYSE:SU)’s stock price 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.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SU shares. Royal Bank of Canada lifted their price objective on Suncor Energy from C$64.00 to C$66.00 in a research note on Thursday, November 14th. Wells Fargo & Company decreased their price target on shares of Suncor Energy from C$66.00 to C$64.00 in a research report on Monday, December 9th. Jefferies Financial Group reduced their price objective on Suncor Energy from C$62.00 to C$54.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. Desjardins upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Thursday, November 14th. Finally, Gerdes Energy Research set a C$69.00 target price on Suncor Energy and gave the company a “buy” rating in a report on Monday, November 25th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$61.89.

Suncor Energy Stock Up 0.5 %

The company has a debt-to-equity ratio of 34.98, a quick ratio of 0.83 and a current ratio of 1.46. The firm has a market capitalization of C$64.59 billion, a P/E ratio of 8.74, a P/E/G ratio of 0.15 and a beta of 1.47. The stock has a fifty day moving average price of C$53.86 and a two-hundred day moving average price of C$53.06.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 24th were paid a dividend of $0.57 per share. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.55. The ex-dividend date was Tuesday, December 3rd. This represents a $2.28 annualized dividend and a yield of 4.48%. Suncor Energy’s payout ratio is presently 37.46%.

Insider Activity at Suncor Energy

In other Suncor Energy news, Senior Officer Kristopher Peter Smith sold 105,000 shares of the company’s stock in a transaction dated 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. Also, Senior Officer Shelley Powell sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of C$56.87, for a total transaction of C$2,843,700.00. 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.