Wells Fargo & Company Has Lowered Expectations for Suncor Energy (TSE:SU) Stock Price

Suncor Energy (TSE:SU) (NYSE:SU) had its target price decreased by Wells Fargo & Company from C$66.00 to C$64.00 in a research note issued to investors on Monday,BayStreet.CA reports.

A number of other equities analysts have also issued reports on the stock. Royal Bank of Canada upped their target price on shares of Suncor Energy from C$64.00 to C$66.00 in a research report on Thursday, November 14th. Scotiabank boosted their price target on Suncor Energy from C$59.00 to C$62.00 in a research note on Wednesday, November 13th. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Thursday, November 14th. Gerdes Energy Research set a C$69.00 price target on shares of Suncor Energy and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Raymond James upped their target price on shares of Suncor Energy from C$52.00 to C$56.00 in a report on Thursday, November 14th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$62.96.

Suncor Energy Stock Performance

SU stock opened at C$54.15 on Monday. Suncor Energy has a 52 week low of C$40.07 and a 52 week high of C$58.28. The stock has a market cap of C$68.77 billion, a P/E ratio of 9.30, a P/E/G ratio of 0.15 and a beta of 1.47. The company has a debt-to-equity ratio of 34.98, a quick ratio of 0.83 and a current ratio of 1.46. The firm has a 50 day simple moving average of C$54.55 and a 200 day simple moving average of C$53.38.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 24th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 4.21%. The ex-dividend date is Tuesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.55. Suncor Energy’s payout ratio is presently 37.46%.

Insider Activity at Suncor Energy

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