Suncor Energy (SU) Price Target Raised to C$58.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price target upped by Canaccord Genuity from C$56.00 to C$58.00 in a research note released on Monday morning.

A number of other research firms also recently weighed in on SU. TD Securities raised Suncor Energy from a hold rating to a buy rating and set a C$52.00 price target for the company in a research note on Friday, February 9th. Barclays raised their price target on Suncor Energy from C$54.00 to C$60.00 in a research note on Thursday, May 3rd. BMO Capital Markets raised their price target on Suncor Energy from C$54.00 to C$56.00 in a research note on Thursday, May 3rd. Royal Bank of Canada raised their price target on Suncor Energy from C$53.00 to C$54.00 and gave the stock an outperform rating in a research note on Thursday, May 3rd. Finally, National Bank Financial raised their price objective on Suncor Energy from C$56.00 to C$57.00 and gave the company an outperform rating in a research note on Thursday, May 3rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of C$54.36.

SU opened at C$53.05 on Monday. Suncor Energy has a fifty-two week low of C$36.09 and a fifty-two week high of C$52.89.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 25th. Investors of record on Monday, June 4th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Friday, June 1st.

In other Suncor Energy news, insider Paul Douglas Gardner sold 40,000 shares of Suncor Energy stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of C$50.00, for a total value of C$2,000,000.00. Also, Director Dennis Michael Houston purchased 5,000 shares of the company’s stock in a transaction on Wednesday, March 14th. The stock was acquired at an average cost of C$32.47 per share, for a total transaction of C$162,350.00. Insiders sold a total of 97,800 shares of company stock worth $4,980,264 over the last three months.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.

Analyst Recommendations for Suncor Energy (TSE:SU)

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