Suncor Energy (TSE:SU) (NYSE:SU) hit a new 52-week high during mid-day trading on Friday after CSFB raised their price target on the stock from C$51.00 to C$56.00. The company traded as high as C$47.94 and last traded at C$47.81, with a volume of 1423229 shares changing hands. The stock had previously closed at C$47.19.
SU has been the topic of a number of other reports. Wells Fargo boosted their price objective on Suncor Energy from C$56.00 to C$59.00 in a research note on Thursday, January 11th. National Bank Financial boosted their price objective on Suncor Energy from C$49.00 to C$56.00 and gave the company an “outperform” rating in a research note on Tuesday, January 9th. Eight Capital set a C$56.00 price target on Suncor Energy and gave the company a “neutral” rating in a research report on Thursday, January 11th. Royal Bank of Canada upped their price target on Suncor Energy from C$49.00 to C$52.00 in a research report on Friday, February 9th. Finally, AltaCorp Capital upgraded Suncor Energy from a “sector perform” rating to an “outperform” rating in a research report on Thursday, March 22nd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of C$52.15.
In related news, Director Dennis Michael Houston purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, March 14th. The shares were purchased at an average cost of C$32.47 per share, for a total transaction of C$162,350.00. Also, insider Steven Walter Williams sold 800 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of C$44.03, for a total value of C$35,224.00.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 26th. Stockholders of record on Monday, March 5th were issued a dividend of $0.36 per share. This is a positive change 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 annualized dividend and a dividend yield of 3.02%.
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Suncor Energy Company Profile
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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