Suncor Energy (TSE:SU) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Suncor Energy Inc. (TSE:SU) (NYSE:SU) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$53.71 and traded as high as C$56.66. Suncor Energy shares last traded at C$54.99, with a volume of 12,944,349 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SU shares. National Bankshares boosted their target price on Suncor Energy from C$65.00 to C$68.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 14th. Wells Fargo & Company lowered their price target on Suncor Energy from C$66.00 to C$64.00 in a research report on Monday, December 9th. JPMorgan Chase & Co. boosted their price objective on Suncor Energy from C$59.00 to C$61.00 in a research report on Friday, December 13th. Finally, Royal Bank of Canada lowered their target price on Suncor Energy from C$66.00 to C$65.00 in a report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$62.54.

Suncor Energy Price Performance

The company has a current ratio of 1.46, a quick ratio of 0.83 and a debt-to-equity ratio of 34.98. The company has a 50 day simple moving average of C$53.97 and a 200 day simple moving average of C$53.74. The stock has a market cap of C$70.28 billion, a P/E ratio of 9.51, a PEG ratio of 0.15 and a beta of 1.47.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its earnings results on Tuesday, November 12th. The company reported C$1.48 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.10 by C$0.38. Suncor Energy had a return on equity of 17.68% and a net margin of 14.87%. During the same quarter last year, the firm posted $1.52 EPS. Sell-side analysts forecast that Suncor Energy Inc. will post 4.4208333 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 24th were given a $0.57 dividend. The ex-dividend date was Tuesday, December 3rd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a dividend yield of 4.12%. Suncor Energy’s payout ratio is presently 37.46%.

Insider Buying and Selling at Suncor Energy

In other news, Senior Officer Shelley Powell sold 50,000 shares of Suncor Energy stock in a transaction on Thursday, November 14th. The shares were sold at an average price of C$56.87, for a total transaction of C$2,843,700.00. Also, Senior Officer Kristopher Peter Smith sold 105,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of C$57.10, for a total transaction of C$5,995,185.00. Company insiders own 0.01% of the company’s stock.

About Suncor Energy

Suncor Energy Inc is an integrated energy company. The company’s operations include oil sands development, production and upgrading, offshore oil and gas, petroleum refining in Canada and the U.S. and the company’s PetroCanada retail and wholesale distribution networks. The company is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen.