Suncor Energy (TSE:SU) Stock Price Passes Above 200-Day Moving Average Following Analyst Downgrade

Shares of Suncor Energy Inc. (TSE:SU) (NYSE:SU) crossed above its two hundred day moving average during trading on Tuesday after CIBC raised their price target on the stock from C$53.00 to C$56.00. The stock has a two hundred day moving average of $0.00 and traded as high as $41.92. Suncor Energy shares last traded at $41.44, with a volume of 835,549 shares traded.

SU has been the subject of several other reports. CSFB upgraded shares of Suncor Energy from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from C$48.00 to C$52.00 in a research note on Thursday, March 14th. Barclays set a $52.00 price objective on shares of Lennar and gave the stock a “buy” rating in a research note on Thursday, January 10th. UBS Group reiterated a “buy” rating and set a $49.00 price objective on shares of Suncor Energy in a research note on Monday, January 7th. Evercore ISI downgraded shares of Suncor Energy from an “outperform” rating to an “in-line” rating and decreased their price objective for the stock from C$58.00 to C$54.00 in a research note on Wednesday, April 3rd. Finally, Canaccord Genuity boosted their price objective on shares of Suncor Energy from C$55.00 to C$60.00 in a research note on Monday, March 11th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Suncor Energy has an average rating of “Buy” and an average target price of C$54.81.

The stock has a market cap of $65.98 billion and a price-to-earnings ratio of 16.76. The company’s 50 day simple moving average is C$41.40. The company has a debt-to-equity ratio of 43.32, a current ratio of 0.88 and a quick ratio of 0.55.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its earnings results on Wednesday, May 1st. The company reported C$0.77 earnings per share for the quarter, beating the consensus estimate of C$0.51 by C$0.26. The firm had revenue of C$9.40 billion during the quarter, compared to analysts’ expectations of C$9.37 billion. Equities analysts expect that Suncor Energy Inc. will post 3.43 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 25th were paid a $0.42 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.68 annualized dividend and a dividend yield of 4.07%. Suncor Energy’s dividend payout ratio (DPR) is presently 60.93%.

About Suncor Energy (TSE:SU)

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.

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