Jefferies Financial Group Cuts Suncor Energy (TSE:SU) Price Target to C$54.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price target cut by Jefferies Financial Group from C$62.00 to C$54.00 in a research report released on Friday,BayStreet.CA reports. They currently have a hold rating on the stock.

A number of other equities research analysts have also issued reports on the company. Desjardins upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Thursday, November 14th. National Bankshares lowered their price target on Suncor Energy from C$76.00 to C$65.00 and set an “outperform” rating on the stock in a report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Suncor Energy from C$59.00 to C$61.00 in a report on Friday, December 13th. Wells Fargo & Company dropped their target price on shares of Suncor Energy from C$66.00 to C$64.00 in a research report on Monday, December 9th. Finally, UBS Group lifted their price target on shares of Suncor Energy from C$61.00 to C$65.00 in a report on Monday, November 18th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$61.89.

Suncor Energy Price Performance

Shares of TSE:SU opened at C$49.60 on Friday. The company has a market capitalization of C$62.99 billion, a P/E ratio of 8.52, a P/E/G ratio of 0.15 and a beta of 1.47. Suncor Energy has a 1-year low of C$41.88 and a 1-year high of C$58.28. The firm’s 50 day simple moving average is C$54.19 and its two-hundred day simple moving average is C$53.20. The company has a debt-to-equity ratio of 34.98, a current ratio of 1.46 and a quick ratio of 0.83.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 24th will be paid a dividend of $0.57 per share. The ex-dividend date is Tuesday, December 3rd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.55. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.60%. Suncor Energy’s payout ratio is currently 37.46%.

Insider Buying and Selling

In related news, Senior Officer Kristopher Peter Smith sold 105,000 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of C$57.10, for a total transaction of C$5,995,185.00. Also, Senior Officer Shelley Powell sold 50,000 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of C$56.87, for a total value of C$2,843,700.00. 0.01% of the stock is currently owned by corporate insiders.

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.