Suncor Energy (TSE:SU) Shares Cross Above 200-Day Moving Average – Should You Sell?

Suncor Energy Inc. (TSE:SU) (NYSE:SU)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$80.05 and traded as high as C$83.62. Suncor Energy shares last traded at C$82.97, with a volume of 3,331,638 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. TD Securities increased their price target on Suncor Energy from C$81.00 to C$91.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Jefferies Financial Group boosted their price objective on shares of Suncor Energy from C$66.00 to C$82.00 in a research note on Monday, March 16th. Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. ATB Cormark Capital Markets upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. Finally, BMO Capital Markets raised their target price on shares of Suncor Energy from C$85.00 to C$100.00 in a research note on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Suncor Energy currently has an average rating of “Moderate Buy” and an average target price of C$94.25.

Suncor Energy Price Performance

The company has a market cap of C$97.97 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 0.15 and a beta of 0.17. The company has a 50-day simple moving average of C$85.86 and a 200-day simple moving average of C$80.05. The company has a debt-to-equity ratio of 32.36, a quick ratio of 0.83 and a current ratio of 1.42.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its quarterly earnings results on Tuesday, May 5th. The company reported C$1.93 EPS for the quarter. Suncor Energy had a return on equity of 14.01% and a net margin of 12.17%.The business had revenue of C$14.48 billion during the quarter. As a group, research analysts predict that Suncor Energy Inc. will post 4.4208333 earnings per share for the current year.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 25th were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a yield of 2.9%. Suncor Energy’s dividend payout ratio (DPR) is 44.49%.

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. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.