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

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Suncor Energy Inc. [NYSE: SU] traded at a low on 05/09/22, posting a -6.05 loss after which it closed the day’ session at $34.81. The company report on May 9, 2022 that Suncor Energy Reports First Quarter 2022 Results.

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Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and have been prepared in accordance with International Financial Reporting Standards (IFRS), specifically International Accounting Standard (IAS) 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production volumes are presented on a working-interest basis, before royalties, except for production values from the company’s Libya operations, which are presented on an economic basis. Certain financial measures referred to in this news release (adjusted funds from operations, adjusted operating earnings, refining and marketing gross margin, last-in, first-out (LIFO) inventory valuation methodology, net debt and free funds flow) are not prescribed by Canadian generally accepted accounting principles (GAAP). See the Non-GAAP Financial Measures section of this news release. References to Oil Sands operations exclude Suncor Energy Inc.’s interest in Fort Hills and Syncrude.

Calgary, Alberta–(Newsfile Corp. – May 9, 2022) – “In the first quarter of 2022, Suncor (TSX: SU) (NYSE: SU) generated the highest quarterly adjusted funds from operations in the company’s history of $4.1 billion, or $2.86 per share, including record adjusted funds from operations from our Oil Sands assets, as commodity prices increased,” said Mark Little, president and chief executive officer. “Our increased cash flows enabled us to reduce net debt by $728 million and return over $1.4 billion of value to shareholders through $827 million in share repurchases and payment of $601 million in dividends.”.

The results of the trading session contributed to over 8472617 shares changing hands. Over the past one week, the price volatility of Suncor Energy Inc. stands at 3.92% while the volatility over the past one month is 3.63%.

The market cap for SU stock reached $50.22 billion, with 1.45 billion shares outstanding and 1.44 billion shares in the current float. Compared to the average trading volume of 8.04M shares, SU reached a trading volume of 8472617 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 1.41, with the Price to Sales ratio for SU stock in the period of the last 12 months amounting to 1.65. The Price to Book ratio for the last quarter was 1.77, with the Price to Cash per share for the same quarter was set at 1.19. Price to Free Cash Flow for SU in the course of the last twelve months was 11.39 with Quick ratio for the last quarter at 0.70.

How has SU stock performed recently?

Suncor Energy Inc. [SU] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.44. With this latest performance, SU shares gained by 6.62% in over the last four-week period, additionally plugging by 31.26% over the last 6 months – not to mention a rise of 49.14% 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 52.27, with the RSI for the last a single of trading hit 48.60, and the three-weeks RSI is set at 54.07 for Suncor Energy Inc. [SU]. The present Moving Average for the last 50 days of trading for this stock 32.97, while it was recorded at 36.65 for the last single week of trading, and 26.05 for the last 200 days.

Suncor Energy Inc. [SU]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Suncor Energy Inc. [SU] shares currently have an operating margin of +16.06 and a Gross Margin at +39.05. Suncor Energy Inc.’s Net Margin is presently recorded at +10.53.

Return on Equity for this stock inclined to 11.38, with Return on Assets sitting at 4.89.

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 analysis for Suncor Energy Inc. [SU]

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%.

Insider trade positions for Suncor Energy Inc. [SU]

There are presently around $30,662 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 $2.04 billion in SU stocks shares; and VANGUARD GROUP INC, currently with $1.76 billion in SU stock with ownership of nearly 0.809% of the company’s market capitalization.

Positions in Suncor Energy Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 252 institutional holders increased their position in Suncor Energy Inc. [NYSE:SU] by around 56,664,385 shares. Additionally, 221 investors decreased positions by around 90,006,254 shares, while 80 investors held positions by with 680,922,199 shares. The mentioned changes placed institutional holdings at 827,592,838 shares, according to the latest SEC report filing. SU stock had 90 new institutional investments in for a total of 10,795,809 shares, while 53 institutional investors sold positions of 26,070,915 shares during the same period.