Suncor Energy (TSE:SU) Stock Price Expected to Rise, National Bank Financial Analyst Says

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective boosted by investment analysts at National Bank Financial from C$118.00 to C$146.00 in a note issued to investors on Wednesday, BayStreet reports. The firm currently has an “outperform” rating on the stock. National Bank Financial’s price objective points to a potential upside of 52.37% from the stock’s previous close.

Several other analysts have also weighed in on the stock. Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Friday, June 5th. TD lifted their price target on shares of Suncor Energy from C$113.00 to C$116.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Desjardins set a C$107.00 price target on shares of Suncor Energy and gave the company a “buy” rating in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Suncor Energy from C$107.00 to C$114.00 in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$100.00.

Suncor Energy Trading Down 1.7%

TSE:SU opened at C$95.82 on Wednesday. The company has a market cap of C$112.07 billion, a PE ratio of 12.79, a P/E/G ratio of 0.15 and a beta of 0.19. The business’s 50 day moving average is C$93.13 and its two-hundred day moving average is C$88.95. The company has a quick ratio of 0.83, a current ratio of 1.65 and a debt-to-equity ratio of 30.48. Suncor Energy has a 52 week low of C$53.02 and a 52 week high of C$100.24.

Suncor Energy (TSE:SU) (NYSE:SU) last issued its quarterly earnings results on Tuesday, August 4th. The company reported C$3.23 earnings per share for the quarter. The business had revenue of C$17.50 billion during the quarter. Suncor Energy had a return on equity of 19.38% and a net margin of 15.32%. On average, analysts predict that Suncor Energy will post 4.4208333 EPS for the current year.

Insider Transactions at Suncor Energy

In other Suncor Energy news, insider David Jason Oldreive sold 5,000 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of C$98.00, for a total value of C$490,000.00. Also, insider Curtis Wade Serra sold 2,400 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of C$94.03, for a total value of C$225,672.00. Insiders sold 79,792 shares of company stock valued at $7,294,928 over the last three months. 0.01% of the stock is currently owned by company insiders.

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.