Wells Fargo & Co Boosts Suncor Energy (SU) Price Target to C$59.00

Suncor Energy (TSE:SU) (NYSE:SU) had its target price hoisted by Wells Fargo & Co from C$56.00 to C$59.00 in a report issued on Thursday morning.

Several other research analysts have also issued reports on the stock. Royal Bank of Canada raised their price target on shares of Suncor Energy from C$45.00 to C$47.00 and gave the stock an outperform rating in a report on Friday, October 27th. BMO Capital Markets restated an outperform rating and set a C$52.00 price target on shares of Suncor Energy in a report on Monday, December 11th. TD Securities lowered shares of Suncor Energy from a buy rating to a hold rating and set a C$50.00 price target for the company. in a report on Thursday, November 16th. Raymond James Financial raised their price target on shares of Suncor Energy from C$47.00 to C$52.00 and gave the stock an outperform rating in a report on Monday, December 4th. Finally, National Bank Financial lowered their price target on shares of Suncor Energy from C$50.00 to C$49.00 and set an outperform rating for the company in a report on Friday, October 13th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of C$50.71.

Suncor Energy (TSE SU) opened at C$47.35 on Thursday. Suncor Energy has a fifty-two week low of C$36.09 and a fifty-two week high of C$47.69. The stock has a market cap of $77,990.00, a P/E ratio of 21.92 and a beta of 0.48.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Stockholders of record on Friday, December 1st were paid a $0.32 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.28 annualized dividend and a dividend yield of 2.70%. Suncor Energy’s dividend payout ratio is currently 57.87%.

In other Suncor Energy news, insider Michael Roderick Macsween sold 55,000 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of C$46.00, for a total transaction of C$2,530,000.00. Also, insider Mark Stephen Little sold 1,000 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of C$45.51, for a total transaction of C$45,510.00. Insiders sold a total of 56,100 shares of company stock valued at $2,580,074 in the last quarter.

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About Suncor Energy

Suncor Energy Inc is a Canada-based 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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