Analysts Set Suncor Energy Inc. (SU) Price Target at $48.92

Shares of Suncor Energy Inc. (TSE:SU) (NYSE:SU) have been assigned an average recommendation of “Buy” from the fourteen research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$49.17.

SU has been the subject of several analyst reports. Barclays PLC upped their price objective on Suncor Energy from C$47.00 to C$49.00 in a research report on Tuesday, October 10th. JPMorgan Chase & Co. upped their price objective on Suncor Energy from C$39.00 to C$42.00 in a research report on Thursday, September 14th. CIBC upped their price objective on Suncor Energy from C$50.00 to C$53.00 in a research report on Tuesday, October 17th. TD Securities upped their price objective on Suncor Energy from C$49.00 to C$50.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Royal Bank Of Canada upped their price objective on Suncor Energy from C$45.00 to C$47.00 and gave the stock an “outperform” rating in a research report on Friday.

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In related news, insider Michael Roderick Macsween sold 20,000 shares of the company’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of C$43.00, for a total value of C$860,000.00. Also, insider Steven Walter Williams bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was purchased at an average cost of C$39.39 per share, with a total value of C$39,390.00.

Suncor Energy (TSE SU) traded up 0.46% during midday trading on Friday, reaching $43.30. The company’s stock had a trading volume of 3,227,408 shares. The stock’s 50-day moving average price is $42.15 and its 200 day moving average price is $40.86. Suncor Energy has a 1-year low of $36.09 and a 1-year high of $44.90. The firm has a market capitalization of $71.85 billion and a PE ratio of 26.79.

Suncor Energy (TSE:SU) (NYSE:SU) last released its quarterly earnings data on Wednesday, July 26th. The company reported C$0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.23 by C($0.11). The business had revenue of C$7.26 billion for the quarter, compared to analyst estimates of C$7.41 billion. Suncor Energy had a return on equity of 3.86% and a net margin of 6.00%. Equities analysts anticipate that Suncor Energy will post $1.37 EPS for the current fiscal year.

Suncor Energy Company Profile

Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.

Analyst Recommendations for Suncor Energy (TSE:SU)

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