Royal Bank of Canada Reiterates C$67.00 Price Target for Suncor Energy (TSE:SU)

Royal Bank of Canada set a C$67.00 price objective on Suncor Energy (TSE:SU) (NYSE:SU) in a research report report published on Tuesday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also recently commented on the stock. Wells Fargo & Company increased their price target on shares of Suncor Energy from C$61.00 to C$66.00 and gave the company an overweight rating in a report on Wednesday, May 22nd. Wolfe Research raised shares of Suncor Energy to a strong-buy rating in a report on Thursday, July 18th. Desjardins upped their target price on shares of Suncor Energy from C$56.00 to C$59.00 and gave the stock a hold rating in a research report on Tuesday, July 23rd. BMO Capital Markets raised shares of Suncor Energy from a market perform rating to an outperform rating and set a C$62.00 target price for the company in a report on Wednesday, August 7th. Finally, Raymond James increased their price target on Suncor Energy from C$51.00 to C$52.00 and gave the company a market perform rating in a report on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of C$61.96.

Suncor Energy Stock Performance

Shares of TSE SU opened at C$51.34 on Tuesday. Suncor Energy has a 1-year low of C$40.07 and a 1-year high of C$57.32. The company has a current ratio of 1.46, a quick ratio of 0.83 and a debt-to-equity ratio of 34.98. The stock’s 50-day moving average is C$53.55 and its 200 day moving average is C$51.94. The stock has a market cap of C$65.20 billion, a price-to-earnings ratio of 8.82, a P/E/G ratio of 0.15 and a beta of 1.50.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its quarterly earnings results on Tuesday, August 6th. The company reported C$1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.06 by C$0.21. Suncor Energy had a net margin of 14.87% and a return on equity of 17.68%. The business had revenue of C$13.04 billion for the quarter, compared to analyst estimates of C$11.59 billion. On average, sell-side analysts anticipate that Suncor Energy will post 5.1553672 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 25th will be given a $0.545 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 4.25%. Suncor Energy’s dividend payout ratio (DPR) is presently 37.46%.

Insiders Place Their Bets

In other Suncor Energy news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of C$56.54, for a total transaction of C$2,131,558.00. In other news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of Suncor Energy stock in a transaction on Monday, August 19th. The shares were sold at an average price of C$56.54, for a total value of C$2,131,558.00. Also, Senior Officer Kristopher Peter Smith sold 100,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of C$51.66, for a total transaction of C$5,165,900.00. 0.01% of the stock is owned by insiders.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.