why Suncor Energy Inc. [SU] is a Good Choice for Investors After New Price Target of $39.93

Suncor Energy Inc. [NYSE: SU] slipped around -0.34 points on Tuesday, while shares priced at $29.66 at the close of the session, down -1.13%. The company report on May 9, 2023 at 6:00 PM that Suncor Energy Reports Voting Results from Annual General Meeting.

Calgary, Alberta–(Newsfile Corp. – May 9, 2023) – Suncor (TSX: SU) (NYSE: SU) held its Annual General Meeting in Calgary today. A total of 907,152,053 shares (approximately 68.50% of outstanding common shares) were represented in person or by proxy.

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Shareholders voted as follows on the matters before the meeting:.

Suncor Energy Inc. stock is now -6.52% down from its year-to-date (YTD) trading value. SU Stock saw the intraday high of $30.17 and lowest of $29.23 per share. The company’s 52-week high price is 42.72, which means current price is +5.51% above from all time high which was touched on 03/03/23.

Compared to the average trading volume of 4.86M shares, SU reached a trading volume of 4783490 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 $39.93 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 2.10. 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.

National Bank Financial have made an estimate for Suncor Energy Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 28, 2023. The new note on the price target was released on March 21, 2023, representing the official price target for Suncor Energy Inc. stock.

The Average True Range (ATR) for Suncor Energy Inc. is set at 0.91, with the Price to Sales ratio for SU stock in the period of the last 12 months amounting to 0.87. The Price to Book ratio for the last quarter was 1.37, with the Price to Cash per share for the same quarter was set at 1.16. Price to Free Cash Flow for SU in the course of the last twelve months was 3.92 with Quick ratio for the last quarter at 0.70.

How has SU stock performed recently?

Suncor Energy Inc. [SU] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.54. With this latest performance, SU shares dropped by -6.88% in over the last four-week period, additionally sinking by -17.93% over the last 6 months – not to mention a drop of -19.95% 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 44.32, with the RSI for the last a single of trading hit 44.88, and the three-weeks RSI is set at 44.50 for Suncor Energy Inc. [SU]. The present Moving Average for the last 50 days of trading for this stock 31.31, while it was recorded at 29.29 for the last single week of trading, and 32.18 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 +23.87 and a Gross Margin at +42.57. Suncor Energy Inc.’s Net Margin is presently recorded at +15.56.

Return on Total Capital for SU is now 25.14, given the latest momentum, and Return on Invested Capital for the company is 17.15. Return on Equity for this stock inclined to 23.89, with Return on Assets sitting at 10.78. When it comes to the capital structure of this company, Suncor Energy Inc. [SU] has a Total Debt to Total Equity ratio set at 40.72. Additionally, SU Total Debt to Total Capital is recorded at 28.94, with Total Debt to Total Assets ending up at 18.95. Long-Term Debt to Equity for the company is recorded at 32.79, with the Long-Term Debt to Total Capital now at 23.30.

Reflecting on the efficiency of the workforce at the company, Suncor Energy Inc. [SU] managed to generate an average of $548,194 per employee. Receivables Turnover for the company is 10.63 with a Total Asset Turnover recorded at a value of 0.69.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 9.46%.

Insider trade positions for Suncor Energy Inc. [SU]

There are presently around $24,168 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 71,512,136, which is approximately 4.209% of the company’s market cap and around 0.01% of the total institutional ownership; VANGUARD GROUP INC, holding 49,756,398 shares of the stock with an approximate value of $1.48 billion in SU stocks shares; and DODGE & COX, currently with $1.24 billion in SU stock with ownership of nearly -0.722% of the company’s market capitalization.

Positions in Suncor Energy Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 269 institutional holders increased their position in Suncor Energy Inc. [NYSE:SU] by around 71,362,101 shares. Additionally, 297 investors decreased positions by around 55,657,653 shares, while 98 investors held positions by with 687,798,360 shares. The mentioned changes placed institutional holdings at 814,818,114 shares, according to the latest SEC report filing. SU stock had 88 new institutional investments in for a total of 16,782,189 shares, while 69 institutional investors sold positions of 4,643,713 shares during the same period.


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