RBC Capital Mkts lifts Suncor Energy Inc. [SU] price estimate. Who else is bullish?

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Suncor Energy Inc. [NYSE: SU] plunged by -$1.04 during the normal trading session on Monday and reaching a high of $31.49 during the day while it closed the day at $31.26. The company report on April 4, 2022 that Suncor Energy Strengthens Its Focus on Hydrogen and Renewable Fuels for Energy Expansion.

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Calgary, Alberta–(Newsfile Corp. – April 4, 2022) – In addition to driving shareholder returns through its core business, Suncor (TSX: SU) (NYSE: SU) will strengthen its focus on hydrogen and renewable fuels to accelerate progress towards its objective to be a net-zero company by 2050. Optimizing the portfolio to drive shareholder returns and continue to reduce emissions requires focus and discipline. Therefore, Suncor plans to divest its wind and solar assets.

“While Suncor is in the fortunate position of being long on opportunities, we are adjusting our portfolio for fit and focus,” said Mark Little, Suncor president and chief executive officer. “By doing so, we use our strengths, competitive advantages and resources to drive shareholder returns and value over the long term and help us meet our emissions reduction targets.”.

Suncor Energy Inc. stock has also loss -8.76% of its value over the past 7 days. However, SU stock has inclined by 19.13% in the 3 months of the year. Over the past six months meanwhile, it has gained 36.75% and gained 24.89% year-on date.

The market cap for SU stock reached $47.71 billion, with 1.45 billion shares outstanding and 1.44 billion shares in the current float. Compared to the average trading volume of 8.25M shares, SU reached a trading volume of 7789141 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Suncor Energy Inc. [SU]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SU shares is $30.80 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SU stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

RBC Capital Mkts have made an estimate for Suncor Energy Inc. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on February 15, 2022. The new note on the price target was released on February 04, 2022, representing the official price target for Suncor Energy Inc. stock.

The Average True Range (ATR) for Suncor Energy Inc. is set at 1.08, with the Price to Sales ratio for SU stock in the period of the last 12 months amounting to 1.53. The Price to Book ratio for the last quarter was 1.56, with the Price to Cash per share for the same quarter was set at 1.15. Price to Free Cash Flow for SU in the course of the last twelve months was 10.60 with Quick ratio for the last quarter at 0.70.

SU stock trade performance evaluation

Suncor Energy Inc. [SU] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.76. With this latest performance, SU shares dropped by -4.98% in over the last four-week period, additionally plugging by 36.75% over the last 6 months – not to mention a rise of 52.19% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SU stock in for the last two-week period is set at 41.77, with the RSI for the last a single of trading hit 34.66, and the three-weeks RSI is set at 46.26 for Suncor Energy Inc. [SU]. The present Moving Average for the last 50 days of trading for this stock 31.73, while it was recorded at 33.09 for the last single week of trading, and 25.33 for the last 200 days.

Suncor Energy Inc. [SU]: An insightful look at the core fundamentals

Suncor Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.10.

Earnings per share (EPS) analysis for Suncor Energy Inc. [SU] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SU. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Suncor Energy Inc. go to 8.00%.

Suncor Energy Inc. [SU]: Insider Ownership positions

There are presently around $27,185 million, or 68.50% of SU stock, in the hands of institutional investors. The top three institutional holders of SU stocks are: ROYAL BANK OF CANADA with ownership of 77,055,637, which is approximately 2.349% of the company’s market cap and around 0.01% of the total institutional ownership; DODGE & COX, holding 55,104,954 shares of the stock with an approximate value of $1.78 billion in SU stocks shares; and VANGUARD GROUP INC, currently with $1.54 billion in SU stock with ownership of nearly 0.809% of the company’s market capitalization.

250 institutional holders increased their position in Suncor Energy Inc. [NYSE:SU] by around 63,296,944 shares. Additionally, 210 investors decreased positions by around 77,948,645 shares, while 78 investors held positions by with 700,385,570 shares. The mentioned changes placed institutional holdings at 841,631,159 shares, according to the latest SEC report filing. SU stock had 99 new institutional investments in for a total of 12,359,565 shares, while 46 institutional investors sold positions of 28,411,645 shares during the same period.