Tudor Pickering’s Analyst Provides Guidance for This Canadian Energy Company
Tudor Pickering analyst Tudor Pickering maintained a Buy rating on Suncor Energy (SU) yesterday and set a price target of C$28.00. The company’s shares closed last Tuesday at $21.89, close to its 52-week high of $23.69.
Currently, the analyst consensus on Suncor Energy is a Strong Buy with an average price target of $27.82, representing a 25.2% upside. In a report issued on April 23, Barclays also maintained a Buy rating on the stock with a C$39.00 price target.
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Based on Suncor Energy’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $6.62 billion and GAAP net loss of $168 million. In comparison, last year the company earned revenue of $9.49 billion and had a GAAP net loss of $2.34 billion.
Based on the recent corporate insider activity of 13 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 a Canada-based integrated energy company which is specialized in producing synthetic crude from oil sands. The company also engages in exploration, acquisition, development, production, and marketing of crude oil in Canada and internationally. It also markets and trades in natural gas, crude oil, byproducts, refined products, and power.