Jefferies Financial Group Lowers Suncor Energy (TSE:SU) Price Target to C$54.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective cut by equities research analysts at Jefferies Financial Group from C$62.00 to C$54.00 in a research note issued on Friday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Jefferies Financial Group’s target price indicates a potential upside of 8.87% from the stock’s previous close.

Other analysts have also recently issued reports about the company. UBS Group increased their target price 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 shares of Suncor Energy and gave the stock a “buy” rating in a research report on Monday, November 25th. Raymond James reduced their target price on shares of Suncor Energy from C$56.00 to C$55.00 in a research note on Friday, December 13th. Wells Fargo & Company cut their price target on Suncor Energy from C$66.00 to C$64.00 in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. boosted their target price on Suncor Energy from C$59.00 to C$61.00 in a research note on Friday, December 13th. Four 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$61.89.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at C$49.60 on Friday. The stock’s fifty day simple moving average is C$54.19 and its 200 day simple moving average is C$53.18. 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 market capitalization of C$62.99 billion, a PE ratio of 8.52, a PEG ratio of 0.15 and a beta of 1.47. Suncor Energy has a 12 month low of C$41.88 and a 12 month high of C$58.28.

Insider Activity at Suncor Energy

In related news, Senior Officer Shelley Powell sold 50,000 shares of Suncor Energy stock in a transaction that occurred 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 firm’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. 0.01% of the stock is owned by company insiders.

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.