Blurbs

RBC Capital’s Outlook for This Canada’s Energy Sector Company

RBC Capital analyst Gregory Pardy maintained a Buy rating on Suncor Energy (SUResearch Report) on July 11 and set a price target of C$56.00. The company’s shares closed last Tuesday at $30.51.

According to TipRanks.com, Pardy is a 5-star analyst with an average return of 24.1% and a 55.9% success rate. Pardy covers the Utilities sector, focusing on stocks such as Canadian Natural, Vermilion Energy, and Cenovus Energy.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Suncor Energy with a $44.52 average price target, a 44.6% upside from current levels. In a report issued on June 30, Credit Suisse also maintained a Buy rating on the stock with a C$63.00 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 $13.49 billion and net profit of $2.95 billion. In comparison, last year the company earned revenue of $8.68 billion and had a net profit of $821 million.

Based on the recent corporate insider activity of 26 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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