Suncor Energy (TSE:SU) Price Target Raised to C$70.00 at CIBC

Suncor Energy (TSE:SU) (NYSE:SU) had its target price increased by equities researchers at CIBC from C$65.00 to C$70.00 in a research report issued on Thursday,BayStreet.CA reports. CIBC’s price objective suggests a potential upside of 11.84% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Gerdes Energy Research lifted their target price on shares of Suncor Energy from C$75.00 to C$78.00 in a research note on Monday, November 10th. JPMorgan Chase & Co. lifted their price objective on Suncor Energy from C$59.00 to C$64.00 in a research report on Thursday, November 6th. Jefferies Financial Group boosted their price objective on Suncor Energy from C$53.00 to C$57.00 in a research note on Monday, August 18th. National Bankshares raised their target price on Suncor Energy from C$65.00 to C$68.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Finally, Desjardins upped their price target on shares of Suncor Energy from C$71.00 to C$73.00 and gave the stock a “buy” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$65.46.

Suncor Energy Stock Performance

Shares of SU stock traded up C$0.17 during trading hours on Thursday, reaching C$62.59. 2,412,075 shares of the company’s stock were exchanged, compared to its average volume of 7,648,282. Suncor Energy has a fifty-two week low of C$43.59 and a fifty-two week high of C$64.14. The business has a fifty day moving average price of C$58.15 and a 200-day moving average price of C$55.05. The stock has a market capitalization of C$75.19 billion, a P/E ratio of 14.59, a P/E/G ratio of 0.15 and a beta of 0.61. The company has a quick ratio of 0.83, a current ratio of 1.59 and a debt-to-equity ratio of 33.35.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its quarterly earnings results on Tuesday, November 4th. The company reported C$1.48 EPS for the quarter. Suncor Energy had a return on equity of 18.10% and a net margin of 15.15%. Analysts predict that Suncor Energy will post 4.4208333 EPS for the current fiscal year.

Insider Transactions at Suncor Energy

In other news, insider Shelley Powell sold 30,000 shares of Suncor Energy stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of C$58.06, for a total value of C$1,741,650.00. Following the completion of the transaction, the insider owned 27,705 shares of the company’s stock, valued at C$1,608,413.78. This trade represents a 51.99% decrease in their position. Also, insider David Jason Oldreive sold 4,542 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of C$57.50, for a total transaction of C$261,165.00. In the last ninety days, insiders have sold 252,142 shares of company stock valued at $15,003,939. 0.01% of the stock is currently owned by company 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.