Suncor Energy (TSE:SU) Price Target Cut to C$54.00 by Analysts at Jefferies Financial Group

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective reduced by Jefferies Financial Group from C$62.00 to C$54.00 in a research note issued to investors on Friday,BayStreet.CA reports. They currently have a hold rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 14th. TD Securities boosted their target price on Suncor Energy from C$60.00 to C$62.00 in a research note on Wednesday, November 13th. Wells Fargo & Company reduced their price target on Suncor Energy from C$66.00 to C$64.00 in a research report on Monday, December 9th. Gerdes Energy Research set a C$69.00 price objective on Suncor Energy and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Raymond James cut their target price on shares of Suncor Energy from C$56.00 to C$55.00 in a report on Friday, December 13th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$61.89.

Suncor Energy Stock Down 0.4 %

Shares of TSE:SU opened at C$49.60 on Friday. The firm has a market capitalization of C$62.99 billion, a PE ratio of 8.52, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The company has a debt-to-equity ratio of 34.98, a quick ratio of 0.83 and a current ratio of 1.46. Suncor Energy has a 52-week low of C$41.88 and a 52-week high of C$58.28. The firm has a fifty day moving average of C$54.19 and a 200 day moving average of C$53.20.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 24th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Tuesday, December 3rd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.55. Suncor Energy’s dividend payout ratio is currently 37.46%.

Insider Buying and Selling

In other news, Senior Officer Kristopher Peter Smith sold 105,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of C$57.10, for a total transaction of C$5,995,185.00. Also, Senior Officer Shelley Powell sold 50,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of C$56.87, for a total transaction of C$2,843,700.00. 0.01% of the stock is owned by company insiders.

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.