Suncor Energy Inc. (SU) Price Target Raised to C$55.00

Suncor Energy Inc. (TSE:SU) (NYSE:SU) had its target price raised by CIBC from C$53.00 to C$55.00 in a report released on Thursday morning.

A number of other research analysts have also recently weighed in on SU. Royal Bank Of Canada lifted their price objective on shares of Suncor Energy from C$47.00 to C$48.00 in a report on Thursday. BMO Capital Markets boosted their price target on shares of Suncor Energy from C$50.00 to C$52.00 in a report on Thursday. GMP Securities boosted their price target on shares of Suncor Energy from C$42.00 to C$43.00 in a report on Thursday. AltaCorp Capital cut shares of Suncor Energy from an outperform rating to a sector perform rating in a report on Friday, July 28th. Finally, Barclays PLC boosted their price target on shares of Suncor Energy from C$49.00 to C$50.00 in a report on Friday, October 27th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of C$48.92.

Suncor Energy (SU) opened at C$45.21 on Thursday. Suncor Energy has a twelve month low of C$36.09 and a twelve month high of C$46.66.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, December 1st will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.28 annualized dividend and a dividend yield of 2.83%. Suncor Energy’s dividend payout ratio is presently 57.87%.

In related news, insider Steven Walter Williams acquired 1,000 shares of Suncor Energy stock in a transaction dated Wednesday, September 6th. The stock was acquired at an average price of C$39.39 per share, for a total transaction of C$39,390.00. Also, Director Jacynthe Cote acquired 2,000 shares of Suncor Energy stock in a transaction dated Tuesday, September 19th. The shares were bought at an average price of C$41.78 per share, with a total value of C$83,560.00. In the last 90 days, insiders have bought 3,539 shares of company stock valued at $146,553 and have sold 76,100 shares valued at $3,440,074.

About Suncor Energy

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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