Economy

How Many Suncor Energy Inc. (TSE:SU)'s Analysts Are Bullish?

RBC Capital Markets maintained the stock with "Sector Perform" rating in Friday, October 28 report. The company now has a consensus rating of "Buy" and an average target price of C$49.25.

A number of analysts recently issued reports on the company.

04/05/2017 - Suncor Energy Inc. was upgraded to "conviction buy" by analysts at Goldman Sachs. They noted that the move was a valuation call.

Analysts at National Bank Financial issued their FY2018 earnings per share (EPS) estimates for Suncor Energy in a research note issued to investors on Monday. The brokerage presently has an "outperform" rating on the stock. Finally, Barclays PLC reissued an "overweight" rating and issued a $52.00 price target (up from $47.00) on shares of Suncor Energy in a research report on Wednesday, July 12th. Finally, Simmons dropped their target price on shares of Suncor Energy from $43.00 to $41.00 and set an "overweight" rating for the company in a research report on Wednesday, April 19th. "(SU) Given a C$51.00 Price Target by National Bank Financial Analysts" was posted by BBNS and is owned by of BBNS. If you are accessing this article on another domain, it was stolen and republished in violation of USA and global trademark & copyright legislation.

Suncor Energy (NYSE SU) traded up 0.23% on Monday, hitting $30.71. 2,079,945 shares of the company traded hands. The stock has a market cap of $65.15 billion and a P/E ratio of 41.88. Suncor Energy has a one year low of $25.70 and a one year high of $33.79.

It is trading at $31.40 which is slightly above $29.68, the 50 day moving average and which is just a bit higher than the 200 day moving average of $30.90. The ex-dividend date was Thursday, June 1st. This represents a $0.95 annualized dividend and a yield of 3.09%. Suncor Energy 's dividend payout ratio (DPR) is presently 141.79%.

Suncor Energy announced that its Board of Directors has approved a share repurchase program on Wednesday, April 26th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas producer to reacquire up to 3.9% of its shares through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its stock is undervalued. United Capital Financial Advisers LLC boosted its stake in Suncor Energy by 16.0% in the first quarter. YorkBridge Wealth Partners LLC boosted its position in Suncor Energy by 1.0% in the first quarter. OppenheimerFunds Inc. now owns 15,323,679 shares of the oil and gas producer's stock worth $471,203,000 after buying an additional 4,309,173 shares in the last quarter. FMR LLC now owns 105,191,127 shares of the oil and gas producer's stock worth $3,229,653,000 after buying an additional 3,492,013 shares in the last quarter. Today?" on July 07, 2017, also Benzinga.com with their article: "Earnings Scheduled For July 26, 2017" published on July 26, 2017, Fool.ca published: "Imperial Oil Ltd. & Suncor Energy Inc.: "2 Names That Should Outperform With ..." on July 05, 2017. Addenda Capital Inc. now owns 1,593,270 shares of the oil and gas producer's stock worth $48,777,000 after buying an additional 72,040 shares in the last quarter. Univest Corp of Pennsylvania increased its stake in shares of Suncor Energy by 7.3% in the first quarter.

Suncor Energy Inc. also recently declared a dividend for shareholders paid on Monday the 26th of June 2017.

The company raised its 2017 capital budget to C$5.4 million-C$5.6 million, from C$4.8 million-C$5.2 million, after speeding up work at its Fort Hills oil sands project and to reflect increased costs at the Syncrude plant in northern Alberta following a fire in March. The Firm operates in three business divisions: Oil Sands, Exploration and Production (E&P), and Refining and Marketing.

Suncor says its total production was 539,100 barrels of oil equivalent per day in the second quarter, with oilsands operations contributing 352,600 barrels per day.



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