Barclays PLC reaffirmed their overweight rating on shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in a research note released on Wednesday morning. The firm currently has a $52.00 target price on the oil and gas producer’s stock, up from their prior target price of $47.00.
A number of other equities research analysts have also weighed in on SU. National Bank Financial began coverage on Suncor Energy in a research report on Tuesday, June 27th. They issued an outperform rating on the stock. Piper Jaffray Companies dropped their price target on Suncor Energy from $40.00 to $38.00 and set an overweight rating on the stock in a research report on Monday, July 3rd. Zacks Investment Research lowered Suncor Energy from a buy rating to a hold rating in a research report on Wednesday, April 12th. Goldman Sachs Group, Inc. (The) upgraded Suncor Energy from a buy rating to a conviction-buy rating and lifted their price target for the company from $25.00 to $34.00 in a research report on Wednesday, April 5th. They noted that the move was a valuation call. Finally, Scotiabank lowered Suncor Energy from an outperform rating to a sector perform rating in a research report on Friday, June 9th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $42.10.
Suncor Energy (NYSE SU) traded up 0.07% during trading on Wednesday, hitting $29.30. The company’s stock had a trading volume of 2,918,959 shares. The firm has a 50 day moving average of $30.64 and a 200 day moving average of $31.30. The firm has a market cap of $48.91 billion, a P/E ratio of 40.92 and a beta of 0.80. Suncor Energy has a 12 month low of $25.70 and a 12 month high of $33.79.
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The business also recently disclosed a quarterly dividend, which was paid on Monday, June 26th. Shareholders of record on Monday, June 5th were paid a dividend of $0.2371 per share. This represents a $0.95 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date was Thursday, June 1st. Suncor Energy ‘s payout ratio is 141.79%.
A number of hedge funds and other institutional investors have recently made changes to their positions in SU. Renaissance Technologies LLC bought a new position in shares of Suncor Energy during the fourth quarter worth about $1,062,000. Dodge & Cox bought a new position in shares of Suncor Energy during the fourth quarter worth about $681,400,000. Quadrature Capital Ltd bought a new position in shares of Suncor Energy during the fourth quarter worth about $5,111,000. UBS Asset Management Americas Inc. bought a new position in shares of Suncor Energy during the fourth quarter worth about $152,000. Finally, Teachers Advisors LLC boosted its position in shares of Suncor Energy by 12,173.3% in the fourth quarter. Teachers Advisors LLC now owns 388,819 shares of the oil and gas producer’s stock worth $12,710,000 after buying an additional 385,651 shares during the last quarter. Institutional investors and hedge funds own 65.38% of the company’s stock.
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.
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