Suncor Energy Inc. (NYSE:SU) (TSE:SU)‘s stock had its “overweight” rating reiterated by research analysts at Barclays PLC in a report issued on Wednesday. They presently have a $52.00 price target on the oil and gas producer’s stock, up from their prior price target of $47.00. Barclays PLC’s price target suggests a potential upside of 80.43% from the company’s current price.
Other equities research analysts have also recently issued research reports about the company. Piper Jaffray Companies dropped their price objective on Suncor Energy from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Monday, July 3rd. National Bank Financial assumed coverage on Suncor Energy in a report on Tuesday, June 27th. They issued an “outperform” rating for the company. Scotiabank cut Suncor Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, June 9th. Simmons dropped their price objective on Suncor Energy from $43.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, April 19th. Finally, Goldman Sachs Group, Inc. (The) upgraded Suncor Energy from a “buy” rating to a “conviction-buy” rating and increased their price objective for the stock from $25.00 to $34.00 in a report on Wednesday, April 5th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $42.10.
Suncor Energy (NYSE SU) opened at 28.82 on Wednesday. The firm has a 50-day moving average price of $30.64 and a 200 day moving average price of $31.30. The firm has a market capitalization of $48.11 billion, a price-to-earnings ratio of 40.25 and a beta of 0.80. Suncor Energy has a 52 week low of $25.70 and a 52 week high of $33.79.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 26th. Shareholders of record on Monday, June 5th were paid a dividend of $0.2371 per share. This represents a $0.95 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date was Thursday, June 1st. Suncor Energy ‘s payout ratio is 141.79%.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new position in shares of Suncor Energy during the fourth quarter worth about $1,062,000. Dodge & Cox bought a new position in shares of Suncor Energy during the fourth quarter worth about $681,400,000. Quadrature Capital Ltd bought a new position in shares of Suncor Energy during the fourth quarter worth about $5,111,000. UBS Asset Management Americas Inc. bought a new position in shares of Suncor Energy during the fourth quarter worth about $152,000. Finally, Teachers Advisors LLC boosted its position in shares of Suncor Energy by 12,173.3% in the fourth quarter. Teachers Advisors LLC now owns 388,819 shares of the oil and gas producer’s stock worth $12,710,000 after buying an additional 385,651 shares during the last quarter. Institutional investors and hedge funds own 65.38% of the company’s stock.
About Suncor Energy
Suncor Energy Inc (Suncor) is an 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.
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