Suncor Energy (TSE:SU) Share Price Passes Below 200 Day Moving Average – What’s Next?

Suncor Energy Inc. (TSE:SU) (NYSE:SU) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$53.07 and traded as low as C$52.72. Suncor Energy shares last traded at C$52.95, with a volume of 7,091,945 shares trading hands.

Analysts Set New Price Targets

Several brokerages have weighed in on SU. Royal Bank of Canada raised their price objective on shares of Suncor Energy from C$64.00 to C$66.00 in a report on Thursday, November 14th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 14th. Raymond James lowered their price objective on Suncor Energy from C$56.00 to C$55.00 in a report on Friday, December 13th. Scotiabank increased their target price on Suncor Energy from C$59.00 to C$62.00 in a report on Wednesday, November 13th. Finally, National Bankshares lowered their price target on Suncor Energy from C$76.00 to C$65.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Four 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$61.89.

Suncor Energy Stock Performance

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’s 50-day moving average is C$53.63 and its two-hundred day moving average is C$53.07. The stock has a market capitalization of C$67.25 billion, a P/E ratio of 9.10, a P/E/G ratio of 0.15 and a beta of 1.47.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 24th were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend was Tuesday, December 3rd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.55. Suncor Energy’s payout ratio is 37.46%.

Insider Buying and Selling

In other Suncor Energy news, Senior Officer Shelley Powell sold 50,000 shares of the firm’s 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 stock was sold at an average price of C$57.10, for a total transaction of C$5,995,185.00. Corporate insiders own 0.01% of the company’s stock.

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.