Suncor Energy (TSE:SU) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Suncor Energy Inc. (TSE:SU) (NYSE:SU) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$83.57 and traded as high as C$91.81. Suncor Energy shares last traded at C$90.79, with a volume of 4,800,542 shares trading hands.

Key Suncor Energy News

Here are the key news stories impacting Suncor Energy this week:

• Positive Sentiment: Analyst optimism increased: Raymond James raised its price target to C$109 from C$103 and reaffirmed an “outperform” rating, implying substantial upside from recent levels. BayStreet.CA analyst rating
• Positive Sentiment: Strong quarterly performance and larger buybacks: Suncor exceeded profit expectations as higher crude prices and stronger refining margins lifted results. The company also increased its share-buyback activity, which could support per-share value and signal confidence in cash generation. BNN Bloomberg investor outlook
• Positive Sentiment: Additional target increase: BMO Capital Markets raised its target to C$105 from C$100, reinforcing the view that Suncor’s earnings and shareholder-return profile remain attractive. Ticker Report analyst rating
• Neutral Sentiment: Production growth remains measured: Management said the company does not plan to accelerate production growth despite potentially supportive Canadian policy changes. This preserves capital discipline but limits near-term volume upside. Seeking Alpha article
• Negative Sentiment: Leadership uncertainty is the main overhang: CEO Rich Kruger will depart next April, with Peter Zebedee named as his successor, while CFO Jackie Forrest has unexpectedly left the company. Investors may view the abrupt finance leadership change as a governance and execution risk, offsetting the positive earnings news. Financial Post leadership article

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SU shares. Scotia increased their target price on Suncor Energy from C$85.00 to C$90.00 and gave the company a “sector perform” rating in a report on Tuesday, April 21st. Desjardins set a C$107.00 price target on shares of Suncor Energy and gave the stock a “buy” rating in a research note on Friday, July 17th. TD raised their price objective on Suncor Energy from C$113.00 to C$116.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Raymond James Financial increased their price target on shares of Suncor Energy from C$103.00 to C$109.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$97.19.

Suncor Energy Stock Down 2.4%

The company has a market cap of C$101.59 billion, a P/E ratio of 16.36, a P/E/G ratio of 0.15 and a beta of 0.18. The company has a debt-to-equity ratio of 32.36, a quick ratio of 0.83 and a current ratio of 1.42. The stock has a 50 day moving average price of C$85.15 and a 200 day moving average price of C$83.83.

Suncor Energy (TSE:SU) (NYSE:SU) last released its quarterly earnings results on Tuesday, August 4th. The company reported C$3.23 earnings per share (EPS) for the quarter. The business had revenue of C$17.50 billion for the quarter. Suncor Energy had a net margin of 12.17% and a return on equity of 14.01%. Research analysts expect that Suncor Energy Inc. will post 4.4208333 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 25th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 44.49%.

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. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.