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

Suncor Energy Inc. (TSE:SU) (NYSE:SU) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$52.92 and traded as high as C$56.04. Suncor Energy shares last traded at C$54.95, with a volume of 3,460,629 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. TD Securities increased their price target on Suncor Energy from C$62.00 to C$63.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Royal Bank Of Canada increased their price objective on Suncor Energy from C$62.00 to C$67.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. ATB Capital increased their price objective on 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. Scotiabank increased their price objective on Suncor Energy from C$60.00 to C$62.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 6th. Finally, Gerdes Energy Research lowered their price objective on Suncor Energy from C$79.00 to C$77.00 in a research report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$63.83.

Suncor Energy Stock Down 0.7%

The firm has a 50 day moving average of C$56.42 and a two-hundred day moving average of C$52.92. The firm has a market capitalization of C$67.46 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 0.15 and a beta of 0.76. The company has a quick ratio of 0.83, a current ratio of 1.59 and a debt-to-equity ratio of 33.35.

Suncor Energy (TSE:SU) (NYSE:SU) last released its quarterly earnings data 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 Inc. will post 4.4208333 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 25th were given a $0.57 dividend. The ex-dividend date was Thursday, September 4th. This represents a $2.28 annualized dividend and a yield of 4.1%. Suncor Energy’s dividend payout ratio (DPR) is currently 49.67%.

Insider Transactions at Suncor Energy

In other Suncor Energy news, insider Shelley Powell sold 30,000 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of C$58.06, for a total value of C$1,741,650.00. Following the completion of the transaction, the insider directly owned 27,705 shares in the company, valued at approximately C$1,608,413.78. This trade represents a 51.99% decrease in their ownership of the stock. Also, insider Kristopher Peter Smith sold 100,000 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of C$57.57, for a total value of C$5,757,000.00. Following the completion of the transaction, the insider owned 48,482 shares of the company’s stock, valued at C$2,791,108.74. This represents a 67.35% decrease in their ownership of the stock. In the last ninety days, insiders sold 139,542 shares of company stock valued at $8,052,015. 0.01% of the stock is currently owned by corporate insiders.

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.