Royal Bank of Canada Trims Suncor Energy (TSE:SU) Target Price to C$64.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price target decreased by Royal Bank of Canada from C$67.00 to C$64.00 in a report released on Tuesday morning, BayStreet.CA reports.

SU has been the subject of a number of other research reports. BMO Capital Markets upgraded Suncor Energy from a market perform rating to an outperform rating and set a C$62.00 price objective for the company in a research note on Wednesday, August 7th. Raymond James raised their price objective on Suncor Energy from C$51.00 to C$52.00 and gave the company a market perform rating in a research note on Thursday, August 8th. Jefferies Financial Group lowered their price objective on Suncor Energy from C$62.00 to C$55.00 and set a hold rating for the company in a research note on Monday, September 16th. Desjardins raised their price objective on Suncor Energy from C$56.00 to C$59.00 and gave the company a hold rating in a research note on Tuesday, July 23rd. Finally, ATB Capital lifted their target price on Suncor Energy from C$53.00 to C$57.50 and gave the stock a sector perform rating in a research report on Wednesday, May 22nd. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of C$61.25.

Suncor Energy Stock Performance

Suncor Energy stock opened at C$50.47 on Tuesday. The stock’s 50-day moving average is C$53.08 and its 200-day moving average is C$52.21. The company has a market cap of C$64.10 billion, a price-to-earnings ratio of 8.67, a price-to-earnings-growth ratio of 0.15 and a beta of 1.49. The company has a debt-to-equity ratio of 34.98, a current ratio of 1.46 and a quick ratio of 0.83. Suncor Energy has a 12 month low of C$40.07 and a 12 month high of C$57.32.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its earnings results on Tuesday, August 6th. The company reported C$1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.06 by C$0.21. Suncor Energy had a return on equity of 17.68% and a net margin of 14.87%. The business had revenue of C$13.04 billion during the quarter, compared to analyst estimates of C$11.59 billion. Equities analysts anticipate that Suncor Energy will post 4.2058333 earnings per share for the current year.

Suncor Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 25th will be given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date is Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 37.46%.

Insider Activity at Suncor Energy

In related news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of C$56.54, for a total transaction of C$2,131,558.00. In other Suncor Energy news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of C$56.54, for a total value of C$2,131,558.00. Also, Senior Officer Kristopher Peter Smith sold 100,000 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of C$51.66, for a total value of C$5,165,900.00. 0.01% of the stock is owned by insiders.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.