Suncor Energy (NYSE:SU) Sees Strong Trading Volume – Time to Buy?

Suncor Energy Inc. (NYSE:SU) (TSE:SU) saw strong trading volume on Tuesday . 11,527,436 shares changed hands during mid-day trading, an increase of 126% from the previous session’s volume of 5,104,995 shares.The stock last traded at $58.1350 and had previously closed at $57.78.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. The Goldman Sachs Group boosted their price objective on shares of Suncor Energy from $48.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Royal Bank Of Canada lifted their target price on shares of Suncor Energy from $69.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Zacks Research lowered shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Raymond James Financial upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Suncor Energy in a research note on Monday, December 29th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average price target of $61.00.

Suncor Energy Trading Up 0.3%

The company has a quick ratio of 0.89, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $68.22 billion, a PE ratio of 16.52 and a beta of 0.43. The business’s fifty day moving average price is $51.32 and its 200 day moving average price is $45.16.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 EPS for the quarter, topping the consensus estimate of $0.77 by $0.02. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. The firm had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.79 billion. During the same period in the previous year, the company earned $1.25 EPS. As a group, analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.2%. Suncor Energy’s dividend payout ratio is currently 50.14%.

Institutional Investors Weigh In On Suncor Energy

A number of institutional investors have recently bought and sold shares of the stock. Atlantic Edge Private Wealth Management LLC raised its stake in Suncor Energy by 54.9% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 225 shares during the period. Richardson Financial Services Inc. increased its holdings in shares of Suncor Energy by 64.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 275 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Suncor Energy in the 2nd quarter worth $31,000. 1 North Wealth Services LLC acquired a new position in Suncor Energy in the fourth quarter valued at $32,000. Finally, Hanson & Doremus Investment Management boosted its holdings in Suncor Energy by 143.5% in the third quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 465 shares during the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

About Suncor Energy

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.