Wells Fargo & Co Boosts Suncor Energy (SU) Price Target to C$59.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective boosted by Wells Fargo & Co from C$56.00 to C$59.00 in a report released on Thursday morning.

A number of other research firms have also recently commented on SU. Royal Bank of Canada upped their price target on shares of Suncor Energy from C$45.00 to C$47.00 and gave the stock an outperform rating in a report on Friday, October 27th. GMP Securities upped their price target on shares of Suncor Energy from C$42.00 to C$43.00 in a report on Thursday, November 16th. National Bank Financial upped their price target on shares of Suncor Energy from C$49.00 to C$56.00 and gave the stock an outperform rating in a report on Tuesday, January 9th. Barclays upped their price target on shares of Suncor Energy from C$47.00 to C$49.00 in a report on Tuesday, October 10th. Finally, Raymond James Financial upped their price target on shares of Suncor Energy from C$47.00 to C$52.00 and gave the stock an outperform rating in a report on Monday, December 4th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Suncor Energy currently has an average rating of Buy and a consensus price target of C$50.71.

Suncor Energy (SU) opened at C$47.35 on Thursday. Suncor Energy has a 1 year low of C$36.09 and a 1 year high of C$47.69. The firm has a market cap of $77,990.00, a price-to-earnings ratio of 21.92 and a beta of 0.48.

The company also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 1st were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Thursday, November 30th. Suncor Energy’s payout ratio is 57.87%.

In related news, insider Michael Roderick Macsween sold 55,000 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of C$46.00, for a total value of C$2,530,000.00. Also, insider Mark Stephen Little sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of C$45.51, for a total transaction of C$45,510.00. Over the last three months, insiders have sold 56,100 shares of company stock valued at $2,580,074.

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About Suncor Energy

Suncor Energy Inc is a Canada-based integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.

Analyst Recommendations for Suncor Energy (TSE:SU)

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