Raymond James Financial Raises Suncor Energy (SU) Price Target to C$52.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective raised by Raymond James Financial from C$47.00 to C$52.00 in a research note published on Monday. Raymond James Financial currently has an outperform rating on the stock.

Several other research analysts have also issued reports on SU. J P Morgan Chase & Co raised their price target on shares of Suncor Energy from C$39.00 to C$42.00 in a report on Thursday, September 14th. Barclays raised their price target on shares of Suncor Energy from C$47.00 to C$49.00 in a report on Tuesday, October 10th. National Bank Financial lowered their price target on shares of Suncor Energy from C$50.00 to C$49.00 and set an outperform rating for the company in a report on Friday, October 13th. CIBC raised their price target on shares of Suncor Energy from C$50.00 to C$53.00 in a report on Tuesday, October 17th. Finally, TD Securities raised their price target on shares of Suncor Energy from C$49.00 to C$50.00 and gave the stock a buy rating in a report on Thursday, October 26th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of C$49.00.

Suncor Energy (TSE SU) opened at C$43.55 on Monday. Suncor Energy has a fifty-two week low of C$36.09 and a fifty-two week high of C$46.66.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, December 1st will be paid a $0.32 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.28 annualized dividend and a dividend yield of 2.94%. Suncor Energy’s dividend payout ratio is currently 57.87%.

In related news, insider Michael Roderick Macsween sold 55,000 shares of Suncor Energy stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of C$46.00, for a total value of C$2,530,000.00. Also, insider Mark Stephen Little sold 1,000 shares of Suncor Energy stock in a transaction on Thursday, November 9th. The stock was sold at an average price of C$45.51, for a total transaction of C$45,510.00. Insiders sold a total of 76,100 shares of company stock valued at $3,440,074 in the last quarter.

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About Suncor Energy

Suncor Energy Inc is a Canada-based 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.

Analyst Recommendations for Suncor Energy (TSE:SU)

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