Suncor Energy (TSE:SU) Given New C$24.00 Price Target at JPMorgan Chase & Co.

Suncor Energy (TSE:SU) (NYSE:SU) had its price target lowered by JPMorgan Chase & Co. from C$33.00 to C$24.00 in a report released on Monday, BayStreet.CA reports.

Several other research analysts have also recently issued reports on SU. Raymond James dropped their target price on Suncor Energy from C$53.00 to C$32.00 and set an outperform rating on the stock in a research report on Thursday, March 12th. Evercore ISI dropped their target price on Suncor Energy from C$45.00 to C$40.00 in a research report on Monday, March 16th. Tudor Pickering & Holt set a C$34.00 target price on Suncor Energy and gave the stock a buy rating in a research report on Monday. Wells Fargo & Co dropped their target price on Suncor Energy from C$50.00 to C$25.00 in a research report on Friday, March 20th. Finally, Citigroup raised their target price on Suncor Energy from C$47.00 to C$50.00 in a research report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of C$38.13.

Suncor Energy stock opened at C$17.97 on Monday. The company has a debt-to-equity ratio of 42.74, a current ratio of 0.94 and a quick ratio of 0.57. Suncor Energy has a one year low of C$14.02 and a one year high of C$46.00. The stock has a market capitalization of $27.23 billion and a PE ratio of 9.66. The business’s fifty day moving average is C$31.92 and its 200 day moving average is C$39.21.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its earnings results on Wednesday, February 5th. The company reported C$0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.66 by C($0.15). The business had revenue of C$9.60 billion during the quarter, compared to analyst estimates of C$11.82 billion. As a group, sell-side analysts expect that Suncor Energy will post 2.83 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 25th were given a dividend of $0.465 per share. This is a boost from Suncor Energy’s previous quarterly dividend of $0.42. This represents a $1.86 dividend on an annualized basis and a dividend yield of 10.35%. The ex-dividend date of this dividend was Tuesday, March 3rd. Suncor Energy’s payout ratio is presently 90.32%.

In related news, Senior Officer Michael Roderick Macsween sold 17,226 shares of Suncor Energy stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of C$39.10, for a total transaction of C$673,541.77. Also, Senior Officer Kristopher Peter Smith bought 8,500 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were acquired at an average cost of C$29.32 per share, for a total transaction of C$249,220.00. Following the purchase, the insider now directly owns 21,582 shares in the company, valued at approximately C$632,784.24.

About Suncor Energy

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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