BMO Capital Markets upgraded shares of Suncor Energy (TSE:SU – Free Report) (NYSE:SU) from a market perform rating to an outperform rating in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. BMO Capital Markets currently has C$62.00 price objective on the stock.
A number of other equities analysts also recently weighed in on the stock. CIBC raised their target price on shares of Suncor Energy from C$60.00 to C$65.00 and gave the company an outperform rating in a research note on Monday, April 22nd. Raymond James set a C$51.00 price target on shares of Suncor Energy and gave the company a market perform rating in a research report on Wednesday, May 29th. Wells Fargo & Company raised their price target on shares of Suncor Energy from C$61.00 to C$66.00 and gave the company an overweight rating in a research report on Wednesday, May 22nd. Jefferies Financial Group raised their price target on shares of Suncor Energy from C$54.00 to C$62.00 and gave the company a hold rating in a research report on Wednesday, May 22nd. Finally, TD Securities raised shares of Suncor Energy from a hold rating to a buy rating and set a C$59.00 price target for the company in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of C$61.96.
View Our Latest Analysis on Suncor Energy
Suncor Energy Price Performance
Suncor Energy Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be given a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend is Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 35.91%.
Insiders Place Their Bets
In other news, Senior Officer Kristopher Peter Smith sold 100,000 shares of Suncor Energy stock in a transaction on Monday, June 24th. The shares were sold at an average price of C$51.66, for a total transaction of C$5,165,900.00. 0.01% of the stock is currently owned by insiders.
About Suncor Energy
Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.
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