Suncor Energy (SU) Price Target Raised to C$61.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective raised by Raymond James from C$60.00 to C$61.00 in a research report released on Tuesday.

A number of other brokerages have also recently issued reports on SU. UBS increased their price objective on Suncor Energy from C$50.00 to C$62.00 in a report on Tuesday. Canaccord Genuity raised their price target on Suncor Energy from C$56.00 to C$58.00 in a report on Monday, May 14th. TD Securities raised their price target on Suncor Energy from C$52.00 to C$54.00 and gave the company a buy rating in a report on Wednesday, May 2nd. Royal Bank of Canada raised their price target on Suncor Energy from C$53.00 to C$54.00 and gave the company an outperform rating in a report on Thursday, May 3rd. Finally, National Bank Financial raised their price target on Suncor Energy from C$56.00 to C$57.00 and gave the company an outperform rating in a report on Thursday, May 3rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of C$55.25.

Shares of SU opened at C$52.11 on Tuesday. Suncor Energy has a 52-week low of C$36.09 and a 52-week high of C$53.43.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 25th. Shareholders of record on Monday, June 4th will be issued a $0.36 dividend. The ex-dividend date is Friday, June 1st. This represents a $1.44 annualized dividend and a dividend yield of 2.76%.

In other news, Director Dennis Michael Houston acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The shares were bought at an average cost of C$32.47 per share, with a total value of C$162,350.00. Also, insider Paul Douglas Gardner sold 40,000 shares of the firm’s stock in a transaction dated Monday, May 7th. The shares were sold at an average price of C$50.00, for a total value of C$2,000,000.00. In the last ninety days, insiders sold 95,000 shares of company stock worth $4,858,400.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.

Analyst Recommendations for Suncor Energy (TSE:SU)

Receive News & Ratings for Suncor Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Suncor Energy and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply