Royal Bank of Canada Has Lowered Expectations for Suncor Energy (TSE:SU) Stock Price

Suncor Energy (TSE:SU) (NYSE:SU) had its target price trimmed by Royal Bank of Canada from C$66.00 to C$65.00 in a research note released on Tuesday,BayStreet.CA reports.

Other equities analysts have also recently issued research reports about the company. UBS Group upped their price target on Suncor Energy from C$61.00 to C$65.00 in a report on Monday, November 18th. Gerdes Energy Research set a C$69.00 target price on shares of Suncor Energy and gave the company a “buy” rating in a research note on Monday, November 25th. Jefferies Financial Group lowered their price target on shares of Suncor Energy from C$62.00 to C$54.00 and set a “hold” rating for the company in a report on Friday, December 20th. TD Securities boosted their price objective on shares of Suncor Energy from C$60.00 to C$62.00 in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. raised their target price on Suncor Energy from C$59.00 to C$61.00 in a research note on Friday, December 13th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$61.82.

Suncor Energy Trading Down 2.2 %

Shares of SU opened at C$56.24 on Tuesday. Suncor Energy has a 12 month low of C$41.88 and a 12 month high of C$58.58. The stock’s 50-day moving average is C$54.06 and its two-hundred day moving average is C$53.32. The company has a debt-to-equity ratio of 34.98, a current ratio of 1.46 and a quick ratio of 0.83. The stock has a market cap of C$71.42 billion, a PE ratio of 9.66, a P/E/G ratio of 0.15 and a beta of 1.47.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 24th were paid a dividend of $0.57 per share. This is an increase from Suncor Energy’s previous quarterly dividend of $0.55. This represents a $2.28 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date was Tuesday, December 3rd. Suncor Energy’s dividend payout ratio is presently 37.46%.

Insider Activity

In other news, Senior Officer Kristopher Peter Smith sold 105,000 shares of the business’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. Also, Senior Officer Shelley Powell sold 50,000 shares of Suncor Energy stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of C$56.87, for a total value of C$2,843,700.00. Corporate insiders own 0.01% of the company’s stock.

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.