CSFB Increases Suncor Energy (SU) Price Target to C$56.00

Suncor Energy (TSE:SU) (NYSE:SU) had its target price lifted by CSFB from C$51.00 to C$56.00 in a research note published on Friday.

Several other equities analysts also recently weighed in on the stock. Wells Fargo increased their price target on shares of Suncor Energy from C$60.00 to C$63.00 in a report on Thursday, April 12th. AltaCorp Capital upgraded shares of Suncor Energy from a sector perform rating to an outperform rating in a report on Thursday, March 22nd. Barclays increased their price target on shares of Suncor Energy from C$50.00 to C$52.00 in a report on Friday, February 9th. Royal Bank of Canada increased their price target on shares of Suncor Energy from C$49.00 to C$52.00 in a report on Friday, February 9th. Finally, TD Securities upgraded shares of Suncor Energy from a hold rating to a buy rating and set a C$52.00 price target on the stock in a report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of C$52.15.

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Shares of Suncor Energy stock opened at C$47.16 on Friday. Suncor Energy has a 52 week low of C$36.09 and a 52 week high of C$47.94.

Suncor Energy (TSE:SU) (NYSE:SU) last issued its quarterly earnings results on Thursday, February 8th. The company reported C$0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.68 by C$0.11. Suncor Energy had a net margin of 15.36% and a return on equity of 12.21%. The company had revenue of C$9.04 billion for the quarter, compared to the consensus estimate of C$8 billion.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 26th. Stockholders of record on Monday, March 5th were paid a dividend of $0.36 per share. This is a boost from Suncor Energy’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, March 2nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.05%.

In related news, insider Steven Walter Williams sold 800 shares of Suncor Energy stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of C$44.03, for a total value of C$35,224.00. Also, Director Dennis Michael Houston purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The stock was bought at an average cost of C$32.47 per share, for a total transaction of C$162,350.00.

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About Suncor Energy

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, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.

Analyst Recommendations for Suncor Energy (TSE:SU)

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