In a report released yesterday, Tudor Pickering from Tudor Pickering maintained a Buy rating on Suncor Energy (SU – Research Report), with a price target of C$33.00. The company’s shares closed last Thursday at $24.01, close to its 52-week high of $25.73.
Suncor Energy has an analyst consensus of Strong Buy, with a price target consensus of $30.19, which is a 20.5% upside from current levels. In a report issued on June 3, Goldman Sachs also maintained a Buy rating on the stock with a $27.00 price target.
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Based on Suncor Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $8.68 billion and net profit of $821 million. In comparison, last year the company earned revenue of $7.39 billion and had a GAAP net loss of $3.53 billion.
Based on the recent corporate insider activity of 16 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.
