Suncor Energy Inc. (SU) Receives Average Rating of “Buy” from Analysts

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Suncor Energy Inc. (TSE:SU) (NYSE:SU) has received an average recommendation of “Buy” from the eighteen ratings firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$58.76.

Several brokerages recently weighed in on SU. Canaccord Genuity boosted their target price on Suncor Energy from C$58.00 to C$64.00 in a research note on Tuesday, July 10th. National Bank Financial boosted their target price on Suncor Energy from C$64.00 to C$65.00 and gave the stock an “outperform” rating in a research note on Friday, July 27th. BMO Capital Markets lifted their price target on Suncor Energy from C$58.00 to C$60.00 in a research report on Thursday, July 26th. TD Securities lifted their price target on Suncor Energy from C$58.00 to C$59.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th. Finally, CSFB lifted their price target on Suncor Energy from C$56.00 to C$65.00 in a research report on Wednesday, July 11th.

SU stock traded up C$0.42 on Friday, hitting C$52.69. 1,764,800 shares of the company’s stock were exchanged, compared to its average volume of 3,038,660. Suncor Energy has a 12-month low of C$38.34 and a 12-month high of C$55.47.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 25th. Shareholders of record on Tuesday, September 4th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, August 31st. This represents a $1.44 dividend on an annualized basis and a yield of 2.73%.

In other news, insider Eric Charles Axford sold 95,000 shares of the business’s stock in a transaction dated Friday, June 22nd. The stock was sold at an average price of C$53.77, for a total value of C$5,108,150.00. Also, insider Mark Stephen Little sold 125,000 shares of the business’s stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of C$53.00, for a total value of C$6,625,000.00.

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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