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

Suncor Energy Inc. (NYSE:SU) (TSE:SU)’s share price passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $63.79 and traded as high as $68.39. Suncor Energy shares last traded at $68.2780, with a volume of 2,883,847 shares trading hands.

Analyst Ratings Changes

A number of brokerages have issued reports on SU. Wall Street Zen downgraded Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a report on Friday, June 5th. Desjardins upgraded Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Morgan Stanley set a $106.00 target price on Suncor Energy in a research note on Wednesday, August 19th. Finally, Weiss Ratings upgraded shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.25.

Suncor Energy Trading Down 0.5%

The firm has a market capitalization of $79.86 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 0.49 and a beta of 0.30. The business’s 50 day moving average price is $66.50 and its 200-day moving average price is $63.79. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.19. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. The firm had revenue of $13.41 billion during the quarter, compared to the consensus estimate of $11.68 billion. During the same quarter last year, the firm earned $0.71 earnings per share. Equities analysts forecast that Suncor Energy Inc. will post 7.39 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were issued a C$0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 31.86%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc lifted its holdings in Suncor Energy by 418.9% in the second quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 398 shares during the period. Continuum Advisory LLC acquired a new position in shares of Suncor Energy during the 2nd quarter worth $27,000. 1 North Wealth Services LLC acquired a new position in shares of Suncor Energy during the 4th quarter worth $32,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Suncor Energy in the 1st quarter valued at about $53,000. Finally, Vestor Capital LLC purchased a new position in shares of Suncor Energy in the 1st quarter valued at about $59,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

About Suncor Energy

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta, Canada. Its operations include the development, production and upgrading of oil sands resources, conventional oil and natural gas production, and the refining and marketing of petroleum products.

Suncor produces crude oil, synthetic crude oil, refined fuels, lubricants and petrochemical feedstocks. Through its Petro-Canada brand, the company operates retail fuel stations and convenience stores across Canada, while its refining and marketing activities serve customers in Canada and the United States.

Founded in 1919, Suncor has evolved from an oil sands producer into one of Canada’s largest integrated energy companies.