Suncor Energy (NYSE:SU) Reaches New 1-Year High at $23.93

Suncor Energy Inc. (NYSE:SU) (TSE:SU) hit a new 52-week high on Monday . The stock traded as high as $23.93 and last traded at $23.93, with a volume of 104 shares. The stock had previously closed at $23.63.

Several equities research analysts recently weighed in on the company. Tudor Pickering reaffirmed a “buy” rating and set a $28.00 price target on shares of Suncor Energy in a report on Friday, March 19th. CIBC lifted their price objective on Suncor Energy from $34.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 10th. Scotiabank lifted their price objective on Suncor Energy from $30.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, April 15th. Barclays raised their price target on Suncor Energy from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, January 29th. Finally, Royal Bank of Canada raised their target price on Suncor Energy from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, May 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $29.85.

The company has a market cap of $34.65 billion, a P/E ratio of -7.22, a PEG ratio of 24.20 and a beta of 1.71. The stock’s 50-day moving average price is $21.32 and its 200-day moving average price is $18.49. The company has a current ratio of 0.98, a quick ratio of 0.59 and a debt-to-equity ratio of 0.42.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Sunday, May 2nd. The oil and gas producer reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.05. Suncor Energy had a negative net margin of 23.13% and a negative return on equity of 1.71%. The firm had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.30 billion. On average, research analysts anticipate that Suncor Energy Inc. will post -1.21 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 25th. Stockholders of record on Friday, June 4th will be paid a dividend of $0.1707 per share. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Thursday, June 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.98%. Suncor Energy’s payout ratio is presently 22.17%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacifica Partners Inc. increased its holdings in Suncor Energy by 181.4% during the fourth quarter. Pacifica Partners Inc. now owns 106,519 shares of the oil and gas producer’s stock valued at $1,836,000 after buying an additional 68,665 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Suncor Energy by 3.1% in the fourth quarter. Crossmark Global Holdings Inc. now owns 94,307 shares of the oil and gas producer’s stock valued at $1,582,000 after acquiring an additional 2,833 shares during the period. First Financialcorp IN raised its stake in shares of Suncor Energy by 9.9% in the fourth quarter. First Financialcorp IN now owns 15,138 shares of the oil and gas producer’s stock valued at $254,000 after acquiring an additional 1,363 shares during the period. Cardinal Capital Management Inc. raised its stake in shares of Suncor Energy by 25.9% in the fourth quarter. Cardinal Capital Management Inc. now owns 2,120,374 shares of the oil and gas producer’s stock valued at $35,483,000 after acquiring an additional 436,310 shares during the period. Finally, Crescent Capital Consulting LLC purchased a new stake in shares of Suncor Energy in the fourth quarter valued at $67,000. 61.98% of the stock is owned by hedge funds and other institutional investors.

About Suncor Energy (NYSE:SU)

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, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.

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