Suncor Energy’s (SU) “Outperform” Rating Reaffirmed at CIBC

CIBC reiterated their outperform rating on shares of Suncor Energy (TSE:SU) (NYSE:SU) in a research report sent to investors on Friday. The brokerage currently has a C$64.00 target price on the stock.

Several other equities analysts have also issued reports on SU. National Bank Financial raised their price objective on Suncor Energy from C$65.00 to C$67.00 in a report on Friday. TD Securities raised their price objective on Suncor Energy from C$58.00 to C$59.00 and gave the stock a buy rating in a report on Thursday, July 26th. Mizuho set a C$61.00 price objective on Suncor Energy and gave the stock a buy rating in a report on Tuesday, July 24th. BMO Capital Markets raised their price objective on Suncor Energy from C$58.00 to C$60.00 in a report on Thursday, July 26th. Finally, Macquarie raised their price objective on Suncor Energy from C$48.00 to C$50.00 in a report on Tuesday, July 3rd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Suncor Energy currently has a consensus rating of Buy and a consensus price target of C$60.56.

TSE:SU opened at C$50.68 on Friday. Suncor Energy has a 12 month low of C$40.49 and a 12 month high of C$55.47.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its earnings results on Wednesday, July 25th. The company reported C$0.73 EPS for the quarter, missing the consensus estimate of C$0.75 by C($0.02). The business had revenue of C$10.43 billion during the quarter, compared to analysts’ expectations of C$8.53 billion. Suncor Energy had a net margin of 15.36% and a return on equity of 12.21%.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 25th. Shareholders of record on Tuesday, September 4th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend was Friday, August 31st.

In other Suncor Energy news, insider Janice Odegaard sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of C$54.00, for a total transaction of C$3,240,000.00.

Suncor Energy Company Profile

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, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.

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Analyst Recommendations for Suncor Energy (TSE:SU)

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