Suncor Energy (TSE:SU) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective raised by equities researchers at JPMorgan Chase & Co. from C$59.00 to C$64.00 in a report issued on Thursday,BayStreet.CA reports. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 7.10% from the company’s previous close.

SU has been the subject of a number of other research reports. UBS Group lifted their price objective on Suncor Energy from C$61.00 to C$65.00 in a research report on Wednesday. Royal Bank Of Canada lifted their price target on Suncor Energy from C$62.00 to C$67.00 and gave the company an “outperform” rating in a report on Tuesday, October 7th. Jefferies Financial Group upped their price objective on shares of Suncor Energy from C$53.00 to C$57.00 in a research note on Monday, August 18th. ATB Capital raised their target price on shares of Suncor Energy from C$60.00 to C$62.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 7th. Finally, Raymond James Financial boosted their target price on shares of Suncor Energy from C$57.00 to C$58.00 and gave the company a “market perform” rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and a consensus price target of C$64.33.

Suncor Energy Stock Up 0.8%

Shares of TSE SU opened at C$59.76 on Thursday. Suncor Energy has a 1 year low of C$43.59 and a 1 year high of C$60.48. The firm’s 50 day moving average price is C$56.84 and its 200 day moving average price is C$53.75. The firm has a market cap of C$71.79 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 0.15 and a beta of 0.61. The company has a debt-to-equity ratio of 33.35, a quick ratio of 0.83 and a current ratio of 1.59.

Suncor Energy (TSE:SU) (NYSE:SU) last issued its quarterly earnings results on Tuesday, August 5th. The company reported C$0.71 earnings per share for the quarter. Suncor Energy had a return on equity of 18.10% and a net margin of 15.15%. As a group, sell-side analysts anticipate that Suncor Energy will post 4.4208333 earnings per share for the current year.

Insider Activity

In other Suncor Energy news, insider Kristopher Peter Smith sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of C$57.57, for a total transaction of C$5,757,000.00. Following the completion of the sale, the insider directly owned 48,482 shares in the company, valued at C$2,791,108.74. The trade was a 67.35% decrease in their ownership of the stock. Also, insider David Jason Oldreive sold 4,542 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of C$57.50, for a total transaction of C$261,165.00. In the last 90 days, insiders have sold 139,542 shares of company stock worth $8,052,015. Insiders own 0.01% of the company’s stock.

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.