Suncor Energy (SU) Price Target Cut to C$59.00 by Analysts at National Bank Financial

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Suncor Energy (TSE:SU) (NYSE:SU) had its price objective reduced by investment analysts at National Bank Financial from C$65.00 to C$59.00 in a research note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bank Financial’s price target would suggest a potential upside of 35.88% from the company’s previous close.

SU has been the subject of several other reports. Evercore ISI lowered shares of Suncor Energy from an “outperform” rating to an “in-line” rating and cut their price target for the company from C$58.00 to C$54.00 in a research report on Wednesday, April 3rd. CIBC increased their target price on shares of Suncor Energy from C$53.00 to C$56.00 in a report on Tuesday, April 23rd. Evercore lowered shares of Suncor Energy from an “outperform” rating to an “in-line” rating and dropped their target price for the stock from C$58.00 to C$54.00 in a report on Wednesday, April 3rd. GMP Securities increased their target price on shares of Suncor Energy from C$46.00 to C$47.00 in a report on Thursday, February 7th. Finally, Morgan Stanley dropped their target price on shares of Suncor Energy from C$58.00 to C$52.00 in a report on Wednesday, January 30th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Suncor Energy presently has an average rating of “Buy” and an average target price of C$55.26.

TSE SU traded up C$0.81 during trading on Friday, hitting C$43.42. 1,405,819 shares of the company’s stock traded hands, compared to its average volume of 3,883,461. The company has a quick ratio of 0.52, a current ratio of 0.84 and a debt-to-equity ratio of 39.43. Suncor Energy has a 12-month low of C$35.53 and a 12-month high of C$55.47. The firm has a market cap of $69.71 billion and a price-to-earnings ratio of 21.50.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its quarterly earnings results on Tuesday, February 5th. The company reported C$0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.56 by C($0.20). The business had revenue of C$8.95 billion for the quarter, compared to analyst estimates of C$10.82 billion. Equities analysts expect that Suncor Energy will post 3.2999999630955 earnings per share for the current fiscal year.

In other Suncor Energy news, Senior Officer Michael Roderick Macsween sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of C$42.89, for a total transaction of C$1,072,250.00. Also, Senior Officer Steven Walter Williams sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of C$43.36, for a total transaction of C$1,300,800.00. Following the transaction, the insider now directly owns 465,102 shares of the company’s stock, valued at approximately C$20,166,822.72.

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.

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