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

Shares of Suncor Energy Inc. (TSE:SU) (NYSE:SU) have been assigned an average rating of “Buy” from the fourteen ratings firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is C$48.92.

A number of research analysts have recently commented on the stock. Royal Bank Of Canada increased their target price on shares of Suncor Energy from C$47.00 to C$48.00 in a report on Thursday. BMO Capital Markets increased their target price on shares of Suncor Energy from C$50.00 to C$52.00 in a report on Thursday. GMP Securities increased their target price on shares of Suncor Energy from C$42.00 to C$43.00 in a report on Thursday. CIBC increased their target price on shares of Suncor Energy from C$53.00 to C$55.00 in a report on Thursday. Finally, TD Securities cut shares of Suncor Energy from a “buy” rating to a “hold” rating and set a C$50.00 target price for the company. in a report on Thursday.

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In related news, insider Mark Stephen Little sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of C$45.51, for a total value of C$45,510.00. Also, Director Jacynthe Cote acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was acquired at an average price of C$41.78 per share, with a total value of C$83,560.00. In the last quarter, insiders purchased 3,539 shares of company stock valued at $146,553 and sold 76,100 shares valued at $3,440,074.

Shares of Suncor Energy (TSE SU) traded up C$0.19 during trading on Thursday, reaching C$45.21. 2,313,100 shares of the company’s stock were exchanged, compared to its average volume of 2,664,903. Suncor Energy has a 12-month low of C$36.09 and a 12-month high of C$46.66.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 1st will be issued a $0.32 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.28 dividend on an annualized basis and a yield of 2.83%. Suncor Energy’s dividend payout ratio (DPR) is presently 57.87%.

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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