Royal Bank of Canada Cuts Suncor Energy (TSE:SU) Price Target to C$65.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective reduced by Royal Bank of Canada from C$66.00 to C$65.00 in a research note issued to investors on Tuesday morning,BayStreet.CA reports.

A number of other research analysts have also issued reports on SU. Wells Fargo & Company dropped their price target on shares of Suncor Energy from C$66.00 to C$64.00 in a research note on Monday, December 9th. TD Securities upped their price objective on Suncor Energy from C$60.00 to C$62.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. raised their target price on Suncor Energy from C$59.00 to C$61.00 in a report on Friday, December 13th. National Bankshares decreased their target price on shares of Suncor Energy from C$76.00 to C$65.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Finally, Gerdes Energy Research set a C$69.00 price target on shares of 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$61.82.

Suncor Energy Stock Performance

TSE SU opened at C$56.24 on Tuesday. The business’s 50-day moving average price is C$54.06 and its 200 day moving average price is C$53.32. Suncor Energy has a 52-week low of C$41.88 and a 52-week high of C$58.58. The firm has a market cap of C$71.42 billion, a P/E ratio of 9.66, a P/E/G 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. Investors of record on Tuesday, December 24th were given a dividend of $0.57 per share. This is an increase from Suncor Energy’s previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend was Tuesday, December 3rd. Suncor Energy’s payout ratio is currently 37.46%.

Insider Buying and Selling at Suncor Energy

In other news, Senior Officer Shelley Powell sold 50,000 shares of Suncor Energy stock in a transaction dated 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. Also, Senior Officer Kristopher Peter Smith sold 105,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of C$57.10, for a total transaction of C$5,995,185.00. 0.01% of the stock is owned by 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.