Raymond James Financial Forecasts Strong Price Appreciation for Suncor Energy (TSE:SU) Stock

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective upped by analysts at Raymond James Financial from C$109.00 to C$118.00 in a note issued to investors on Wednesday, BayStreet reports. The firm presently has an “outperform” rating on the stock. Raymond James Financial’s price target would suggest a potential upside of 20.63% from the company’s previous close.

A number of other analysts have also recently weighed in on SU. JPMorgan Chase & Co. upped their price target on shares of Suncor Energy from C$107.00 to C$114.00 in a research report on Thursday, August 13th. Scotiabank raised Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. BMO Capital Markets upped their target price on Suncor Energy from C$100.00 to C$105.00 in a research report on Wednesday, August 5th. Desjardins set a C$107.00 target price on Suncor Energy and gave the company a “buy” rating in a research note on Friday, July 17th. Finally, The Goldman Sachs Group lowered Suncor Energy from a “buy” rating to a “hold” rating in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$98.25.

Suncor Energy Trading Down 2.2%

SU traded down C$2.17 on Wednesday, reaching C$97.82. 1,912,267 shares of the company’s stock were exchanged, compared to its average volume of 6,333,522. The company’s 50 day moving average is C$91.06 and its 200-day moving average is C$87.66. The company has a market cap of C$114.41 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 0.15 and a beta of 0.19. Suncor Energy has a twelve month low of C$53.02 and a twelve month high of C$100.24. The company has a debt-to-equity ratio of 30.48, a quick ratio of 0.83 and a current ratio of 1.65.

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

Insiders Place Their Bets

In related news, insider Peter Douglas Zebedee sold 5,000 shares of the stock in a transaction dated 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 Richard Michael Kruger sold 15,378 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of C$94.84, for a total value of C$1,458,449.52. In the last 90 days, insiders have sold 79,792 shares of company stock valued at $7,294,928. 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.