Scotia Forecasts Strong Price Appreciation for Suncor Energy (TSE:SU) Stock

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective hoisted by equities research analysts at Scotia from C$123.00 to C$126.00 in a research note issued to investors on Thursday, BayStreet reports. The brokerage currently has a “sector outperform” rating on the stock. Scotia‘s target price would indicate a potential upside of 29.76% from the company’s current price.

SU has been the topic of a number of other reports. Gerdes Energy Research downgraded Suncor Energy from a “buy” rating to a “neutral” rating and upped their price target for the company from C$96.00 to C$97.00 in a report on Wednesday, July 22nd. Desjardins lifted their price objective on Suncor Energy from C$110.00 to C$117.00 and gave the stock a “buy” rating in a report on Tuesday, October 20th. Royal Bank Of Canada boosted their target price on Suncor Energy from C$100.00 to C$110.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 13th. BMO Capital Markets upped their target price on shares of Suncor Energy from C$100.00 to C$105.00 in a research note on Wednesday, August 5th. Finally, TD upped their target price on shares of Suncor Energy from C$125.00 to C$129.00 and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$109.27.

Suncor Energy Stock Up 0.4%

TSE SU traded up C$0.35 during mid-day trading on Thursday, reaching C$97.10. The stock had a trading volume of 6,427,237 shares, compared to its average volume of 6,078,739. The stock has a market cap of C$111.78 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 0.15 and a beta of 0.12. Suncor Energy has a 1 year low of C$57.95 and a 1 year high of C$112.80. The company has a debt-to-equity ratio of 10.56, a current ratio of 1.71 and a quick ratio of 0.83. The company has a fifty day moving average price of C$100.56 and a 200 day moving average price of C$88.73.

Suncor Energy (TSE:SU) (NYSE:SU) last issued its earnings results on Tuesday, November 3rd. The company reported C$3.97 EPS for the quarter. The business had revenue of C$18.88 billion for the quarter. Suncor Energy had a return on equity of 23.57% and a net margin of 17.22%. On average, research analysts expect that Suncor Energy will post 4.42 earnings per share for the current year.

Insider Transactions at Suncor Energy

In related news, insider Richard Michael Kruger sold 15,378 shares of Suncor Energy stock in a transaction on Thursday, August 20th. The stock was sold at an average price of C$94.84, for a total value of C$1,458,449.52. Also, insider Shelley Powell sold 41,911 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of C$87.60, for a total value of C$3,671,403.60. Following the sale, the insider owned 27,705 shares of the company’s stock, valued at approximately C$2,426,958. This trade represents a 60.20% decrease in their position. Over the last quarter, insiders sold 79,792 shares of company stock worth $7,294,928. Company insiders own 0.01% of the company’s stock.

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.