Suncor Energy (SU) PT Set at C$56.00 by Eight Capital

Eight Capital set a C$56.00 price objective on Suncor Energy (TSE:SU) (NYSE:SU) in a research report released on Thursday. The firm currently has a neutral rating on the stock.

Several other brokerages have also issued reports on SU. Royal Bank of Canada boosted their price objective on Suncor Energy from C$45.00 to C$47.00 and gave the company an outperform rating in a research report on Friday, October 27th. GMP Securities boosted their price objective on Suncor Energy from C$42.00 to C$43.00 in a research report on Thursday, November 16th. National Bank Financial boosted their price objective on Suncor Energy from C$49.00 to C$56.00 and gave the company an outperform rating in a research report on Tuesday. Barclays boosted their price objective on Suncor Energy from C$47.00 to C$49.00 in a research report on Tuesday, October 10th. Finally, Raymond James Financial upped their price target on Suncor Energy from C$47.00 to C$52.00 and gave the stock an outperform rating in a research report on Monday, December 4th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of Buy and an average price target of C$50.71.

Shares of Suncor Energy (TSE:SU) traded up C$0.24 on Thursday, hitting C$47.35. The company had a trading volume of 1,877,200 shares, compared to its average volume of 2,520,000. Suncor Energy has a 1-year low of C$36.09 and a 1-year high of C$47.69. The firm has a market cap of $77,990.00, a price-to-earnings ratio of 21.92 and a beta of 0.48.

The company also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 1st were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Thursday, November 30th. Suncor Energy’s dividend payout ratio (DPR) is currently 57.87%.

In other news, insider Michael Roderick Macsween sold 55,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of C$46.00, for a total transaction of C$2,530,000.00. Also, insider Mark Stephen Little sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of C$45.51, for a total value of C$45,510.00. In the last ninety days, insiders have sold 56,100 shares of company stock valued at $2,580,074.

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Suncor Energy Company Profile

Suncor Energy Inc is a Canada-based integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.

Analyst Recommendations for Suncor Energy (TSE:SU)

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