Suncor Energy (TSE:SU) Shares Cross Below 200-Day Moving Average – What’s Next?

Suncor Energy Inc. (TSE:SU) (NYSE:SU) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$53.06 and traded as low as C$50.44. Suncor Energy shares last traded at C$50.86, with a volume of 12,475,132 shares trading hands.

Analysts Set New Price Targets

SU has been the topic of a number of recent research reports. National Bankshares dropped their price target on shares of Suncor Energy from C$76.00 to C$65.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. TD Securities raised their price target on Suncor Energy from C$60.00 to C$62.00 in a report on Wednesday, November 13th. Raymond James decreased their price objective on Suncor Energy from C$56.00 to C$55.00 in a research note on Friday, December 13th. Jefferies Financial Group cut their target price on Suncor Energy from C$62.00 to C$54.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Finally, JPMorgan Chase & Co. upped their price target on Suncor Energy from C$59.00 to C$61.00 in a research report on Friday, December 13th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$61.89.

Suncor Energy Stock Performance

The company has a debt-to-equity ratio of 34.98, a current ratio of 1.46 and a quick ratio of 0.83. The stock has a market cap of C$64.59 billion, a P/E ratio of 8.74, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The company has a 50 day simple moving average of C$53.86 and a 200-day simple moving average of C$53.07.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 24th were paid a $0.57 dividend. This is a boost from Suncor Energy’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.48%. Suncor Energy’s dividend payout ratio is 37.46%.

Insider Activity at Suncor Energy

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