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

Suncor Energy (TSE:SU) (NYSE:SU) had its price target reduced by Jefferies Financial Group from C$62.00 to C$54.00 in a report released on Friday,BayStreet.CA reports. Jefferies Financial Group currently has a hold rating on the stock.

SU has been the topic of several other reports. Royal Bank of Canada raised their price objective on Suncor Energy from C$64.00 to C$66.00 in a report on Thursday, November 14th. Raymond James dropped their price target on Suncor Energy from C$56.00 to C$55.00 in a research report on Friday, December 13th. Gerdes Energy Research set a C$69.00 price objective on Suncor Energy and gave the company a “buy” rating in a report on Monday, November 25th. TD Securities increased their target price on shares of Suncor Energy from C$60.00 to C$62.00 in a report on Wednesday, November 13th. Finally, Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Thursday, November 14th. Four research 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$61.89.

Suncor Energy Price Performance

Shares of SU stock opened at C$49.60 on Friday. The company has a market capitalization of C$62.99 billion, a P/E ratio of 8.52, a P/E/G ratio of 0.15 and a beta of 1.47. The company’s 50-day simple moving average is C$54.19 and its two-hundred day simple moving average is C$53.18. Suncor Energy has a one year low of C$41.88 and a one year high of C$58.28. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 24th will be given a $0.57 dividend. This is a boost from Suncor Energy’s previous quarterly dividend of $0.55. The ex-dividend date is Tuesday, December 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.60%. Suncor Energy’s dividend payout ratio (DPR) is presently 37.46%.

Insider Activity at Suncor Energy

In other news, Senior Officer Shelley Powell sold 50,000 shares of the business’s stock in a transaction 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. Also, Senior Officer Kristopher Peter Smith sold 105,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of C$57.10, for a total value of C$5,995,185.00. 0.01% of the stock is currently owned by corporate 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.