Suncor Energy (TSE:SU) Hits New 52-Week High – Still a Buy?

Shares of Suncor Energy Inc. (TSE:SU) (NYSE:SU) reached a new 52-week high on Friday . The stock traded as high as C$58.01 and last traded at C$57.81, with a volume of 2502431 shares traded. The stock had previously closed at C$57.50.

Analysts Set New Price Targets

A number of research analysts have commented on the company. UBS Group increased their price objective on Suncor Energy from C$61.00 to C$65.00 in a research report on Monday. Scotiabank boosted their price objective on Suncor Energy from C$59.00 to C$62.00 in a report on Wednesday, November 13th. Raymond James raised their target price on shares of Suncor Energy from C$52.00 to C$56.00 in a research note on Thursday, November 14th. Jefferies Financial Group reduced their price objective on shares of Suncor Energy from C$62.00 to C$55.00 and set a “hold” rating on the stock in a research note on Monday, September 16th. Finally, National Bankshares upped their target price on shares of Suncor Energy from C$73.00 to C$76.00 in a research report on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$61.81.

Suncor Energy Stock Up 0.8 %

The company has a market capitalization of C$73.62 billion, a P/E ratio of 9.88, a P/E/G ratio of 0.15 and a beta of 1.47. The company has a quick ratio of 0.83, a current ratio of 1.46 and a debt-to-equity ratio of 34.98. The firm has a fifty day simple moving average of C$53.31 and a 200-day simple moving average of C$53.22.

Suncor Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were issued a dividend of $0.545 per share. The ex-dividend date was Wednesday, September 4th. This represents a $2.18 annualized dividend and a yield of 3.76%. Suncor Energy’s dividend payout ratio (DPR) is currently 37.46%.

Insider Transactions at Suncor Energy

In other Suncor Energy news, Senior Officer Shelley Powell sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was 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 Suncor Energy stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of C$57.10, for a total transaction of C$5,995,185.00. 0.01% of the stock is owned by insiders.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.