Price Action Alert: Does Suncor Energy Inc. (USA) Have More Gas After Reaching 52-Week High?

Price Action Alert: Does Suncor Energy Inc. (USA) Have More Gas After Reaching 52 Week High?

The stock of Suncor Energy Inc. (USA) (NYSE:SU) hit a new 52-week high and has $45.30 target or 42.00% above today’s $31.90 share price. The 5 months bullish chart indicates low risk for the $53.85B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $45.30 price target is reached, the company will be worth $22.62B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.41 million shares traded hands. Suncor Energy Inc. (USA) (NYSE:SU) has risen 5.53% since April 19, 2016 and is uptrending. It has outperformed by 1.66% the S&P500.

Suncor Energy Inc. (USA) (NYSE:SU) Ratings Coverage

Out of 11 analysts covering Suncor Energy Inc. (NYSE:SU), 9 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 82% are positive. Suncor Energy Inc. has been the topic of 17 analyst reports since July 21, 2015 according to StockzIntelligence Inc. National Bank Canada upgraded Suncor Energy Inc. (USA) (NYSE:SU) on Friday, October 30 to “Outperform” rating. The stock of Suncor Energy Inc. (USA) (NYSE:SU) earned “Neutral” rating by JP Morgan on Tuesday, March 22. The stock of Suncor Energy Inc. (USA) (NYSE:SU) earned “Overweight” rating by Morgan Stanley on Wednesday, November 2. Bank of America initiated the stock with “Buy” rating in Friday, August 19 report. Macquarie Research upgraded Suncor Energy Inc. (USA) (NYSE:SU) on Thursday, October 27 to “Outperform” rating. The firm has “Neutral” rating by Citigroup given on Wednesday, September 16. The firm has “Buy” rating by Citigroup given on Thursday, June 23. TD Securities downgraded Suncor Energy Inc. (USA) (NYSE:SU) on Wednesday, November 18 to “Hold” rating. The firm has “Neutral” rating by Citigroup given on Wednesday, April 20.

According to Zacks Investment Research, “SUNCOR ENERGY is a world leader in mining and extracting crude oil from the vast oil sands deposits of northern Alberta. They also explore for, develop and market natural gas, operate a refining and marketing business in Ontario, and are actively involved in the development of renewable energy sources to help meet the energy needs of tomorrow.”

More notable recent Suncor Energy Inc. (USA) (NYSE:SU) news were published by: Fool.ca which released: “Buffett’s Suncor Energy Inc. Purchase May Pay Off Big in 2017, 2018” on November 21, 2016, also Fool.ca with their article: “Is it Time to Reconsider Suncor Energy Inc.?” published on November 18, 2016, Fool.ca published: “Buffett Sells Suncor Energy Inc.: What Does This Mean for the Canadian Oil Patch?” on November 16, 2016. More interesting news about Suncor Energy Inc. (USA) (NYSE:SU) were released by: Fool.ca and their article: “3 Remarkable Numbers a Suncor Energy Inc. Investor Won’t Want to Miss” published on November 03, 2016 as well as Fool.ca‘s news article titled: “Is This the End for Suncor Energy Inc.?” with publication date: November 01, 2016.

SU Company Profile

Suncor Energy Inc. (Suncor), incorporated on August 1, 2009, is an integrated energy company. The Firm is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Firm operates in three business divisions: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. In addition, it explores for, acquires, develops, produces and markets natural gas and crude oil in Canada and internationally. It transports and refines crude oil, and markets petroleum and petrochemical products primarily in Canada. It also markets third-party petroleum products. Suncor conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, power and byproducts.

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