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

Suncor Energy (TSE:SU) (NYSE:SU) had its price target boosted by Raymond James from C$57.00 to C$58.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “market perform” rating on the stock. Raymond James’ target price would suggest a potential upside of 3.98% from the stock’s current price.

SU has been the subject of several other research reports. TD Securities upped their price target on shares of Suncor Energy from C$60.00 to C$62.00 in a research report on Wednesday, November 13th. Scotiabank boosted their price target on Suncor Energy from C$59.00 to C$62.00 in a research report on Wednesday, November 13th. UBS Group lifted their target price on shares of Suncor Energy from C$61.00 to C$65.00 in a report on Monday, November 18th. Jefferies Financial Group raised their price objective on shares of Suncor Energy from C$54.00 to C$58.00 in a report on Thursday, January 30th. Finally, Wells Fargo & Company reduced their price objective on Suncor Energy from C$66.00 to C$64.00 in a report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Suncor Energy has an average rating of “Moderate Buy” and an average price target of C$62.54.

Suncor Energy Price Performance

SU stock traded up C$0.79 on Friday, reaching C$55.78. 1,046,476 shares of the company’s stock were exchanged, compared to its average volume of 5,425,703. The firm has a market cap of C$70.84 billion, a PE ratio of 9.58, a P/E/G ratio of 0.15 and a beta of 1.47. The company has a quick ratio of 0.83, a current ratio of 1.46 and a debt-to-equity ratio of 34.98. Suncor Energy has a twelve month low of C$42.43 and a twelve month high of C$58.58. The stock has a fifty day moving average of C$53.98 and a 200-day moving average of C$53.72.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its quarterly earnings results on Tuesday, November 12th. The company reported C$1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.10 by C$0.38. Suncor Energy had a return on equity of 17.68% and a net margin of 14.87%. During the same period in the prior year, the company posted $1.52 earnings per share. As a group, equities analysts predict that Suncor Energy will post 4.4208333 EPS for the current fiscal year.

Insider Activity

In other Suncor Energy news, Senior Officer Shelley Powell sold 50,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of C$56.87, for a total value of C$2,843,700.00. Also, Senior Officer Kristopher Peter Smith sold 105,000 shares of the business’s stock in a transaction on 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. Company insiders own 0.01% of the company’s stock.

Suncor Energy Company Profile

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.