After TD Securities and Raymond James gave Suncor Energy (NYSE: SU) a Buy rating last month, the company received another Buy, this time from Tudor Pickering. Analyst Tudor Pickering maintained a Buy rating on Suncor Energy yesterday and set a price target of C$23.00. The company’s shares closed last Wednesday at $17.56.
Currently, the analyst consensus on Suncor Energy is a Strong Buy with an average price target of $18.85, representing a 7.4% upside. In a report issued on November 10, Scotiabank also maintained a Buy rating on the stock with a C$27.00 price target.
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The company has a one-year high of $34.56 and a one-year low of $9.61. Currently, Suncor Energy has an average volume of 8.35M.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SU in relation to earlier this year.
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Suncor Energy, Inc. is an integrated energy company, which develops petroleum resource basins. Its activities include oil sands development, and upgrading, onshore and offshore oil and gas production, petroleum refining, and product marketing. The company operates through the following business segments: Oil Sands; Exploration & Production; and Refining & Marketing. The Oil Sands segment refers to the operations in the Athabasca oil sands in Alberta to develop and produce synthetic crude oil and related products through the recovery and upgrading of bitumen from mining and in situ operations. The Exploration and Production segment includes offshore activity in East Coast Canada the exploration and production of crude oil and natural gas in the United Kingdom, Norway, Libya, and Syria, and exploration and production of natural gas and natural gas liquids in Western Canada. The Refining & Marketing segment is the refining of crude oil products and the distribution & marketing of these and other purchased products through retail stations located in Canada and the United State, as well as a lubricants plant located in Eastern Canada. The company was founded in 1917 and is headquartered in Calgary, Canada.
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