Insider Selling: Suncor Energy (TSE:SU) Insider Sells C$3,671,403.60 in Stock

Suncor Energy Inc. (TSE:SU) (NYSE:SU) insider Shelley Powell sold 41,911 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of C$87.60, for a total value of C$3,671,403.60. Following the completion of the sale, the insider directly owned 27,705 shares of the company’s stock, valued at C$2,426,958. This trade represents a 60.20% decrease in their position.

Suncor Energy Stock Up 0.9%

Shares of SU traded up C$0.79 during trading hours on Wednesday, reaching C$89.04. The stock had a trading volume of 862,180 shares, compared to its average volume of 6,310,313. The firm has a 50-day simple moving average of C$85.05 and a 200 day simple moving average of C$84.20. Suncor Energy Inc. has a 12 month low of C$52.96 and a 12 month high of C$96.53. The company has a current ratio of 1.65, a quick ratio of 0.83 and a debt-to-equity ratio of 30.48. The company has a market capitalization of C$104.14 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 0.15 and a beta of 0.18.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its quarterly earnings results on Tuesday, August 4th. The company reported C$3.23 EPS for the quarter. Suncor Energy had a net margin of 15.32% and a return on equity of 19.38%. The business had revenue of C$17.50 billion during the quarter. Equities research analysts predict that Suncor Energy Inc. will post 4.4208333 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 25th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.7%. Suncor Energy’s payout ratio is presently 31.64%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Scotia raised their price target on shares of Suncor Energy from C$85.00 to C$90.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 21st. Scotiabank raised Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. BMO Capital Markets increased their price objective on shares of Suncor Energy from C$100.00 to C$105.00 in a research note on Wednesday, August 5th. JPMorgan Chase & Co. lifted their target price on shares of Suncor Energy from C$105.00 to C$106.00 in a research report on Tuesday, May 12th. Finally, Desjardins set a C$107.00 target price on Suncor Energy and gave the stock a “buy” rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$97.19.

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