Suncor Energy (NYSE:SU) Given New C$58.00 Price Target at Credit Suisse Group

Suncor Energy (NYSE:SUGet Rating) (TSE:SU) had its price objective hoisted by Credit Suisse Group from C$50.00 to C$58.00 in a research note released on Friday, The Fly reports.

SU has been the subject of several other reports. StockNews.com began coverage on Suncor Energy in a report on Thursday, March 31st. They issued a buy rating for the company. Raymond James lifted their price objective on Suncor Energy from C$50.00 to C$52.00 in a report on Tuesday, May 10th. TD Securities lifted their price objective on Suncor Energy from C$51.00 to C$53.00 in a report on Tuesday, May 10th. CIBC lifted their price objective on Suncor Energy from C$50.00 to C$60.00 in a report on Thursday, April 14th. Finally, BMO Capital Markets lifted their price objective on Suncor Energy from C$48.00 to C$54.00 in a report on Wednesday, May 11th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of $46.73.

NYSE:SU opened at $40.61 on Friday. The stock has a market cap of $57.46 billion, a P/E ratio of 11.87, a PEG ratio of 0.54 and a beta of 1.35. The stock has a 50 day simple moving average of $34.88 and a 200 day simple moving average of $29.99. The company has a current ratio of 1.18, a quick ratio of 0.75 and a debt-to-equity ratio of 0.36. Suncor Energy has a 1-year low of $17.10 and a 1-year high of $40.72.

Suncor Energy (NYSE:SUGet Rating) (TSE:SU) last released its quarterly earnings results on Monday, May 9th. The oil and gas producer reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.21. The business had revenue of $10.65 billion during the quarter, compared to analysts’ expectations of $9.18 billion. Suncor Energy had a return on equity of 15.69% and a net margin of 14.18%. As a group, sell-side analysts forecast that Suncor Energy will post 5.13 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, June 3rd will be issued a $0.3623 dividend. The ex-dividend date of this dividend is Thursday, June 2nd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.33. This represents a $1.45 annualized dividend and a dividend yield of 3.57%. Suncor Energy’s dividend payout ratio is currently 38.89%.

Hedge funds have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC grew its holdings in Suncor Energy by 2.9% during the first quarter. Neuberger Berman Group LLC now owns 414,851 shares of the oil and gas producer’s stock valued at $13,692,000 after purchasing an additional 11,612 shares during the period. Capital International Sarl bought a new position in Suncor Energy during the first quarter valued at $2,025,000. Capital International Investors grew its holdings in Suncor Energy by 20.2% during the first quarter. Capital International Investors now owns 12,075,966 shares of the oil and gas producer’s stock valued at $393,146,000 after purchasing an additional 2,027,620 shares during the period. Capital Group Private Client Services Inc. bought a new position in Suncor Energy during the first quarter valued at $12,820,000. Finally, Advisors Asset Management Inc. grew its holdings in Suncor Energy by 114.9% during the first quarter. Advisors Asset Management Inc. now owns 29,341 shares of the oil and gas producer’s stock valued at $956,000 after purchasing an additional 15,686 shares during the period. 58.48% of the stock is owned by institutional investors.

Suncor Energy Company Profile (Get Rating)

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, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.

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