ValuEngine Downgrades Suncor Energy (NYSE:SU) to Sell

Suncor Energy (NYSE:SU) (TSE:SU) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a report released on Saturday, July 6th, ValuEngine reports.

SU has been the topic of a number of other reports. GMP Securities reissued a “hold” rating and issued a $48.00 price objective on shares of Suncor Energy in a research note on Tuesday, May 7th. BMO Capital Markets set a $45.00 price objective on shares of Chemours and gave the company a “buy” rating in a research note on Monday, June 24th. Mizuho set a $208.00 price objective on shares of Amgen and gave the company a “buy” rating in a research note on Monday, April 22nd. Raymond James reissued a “buy” rating and issued a $21.00 price objective on shares of Colfax in a research note on Thursday, May 2nd. Finally, Zacks Investment Research upgraded shares of Gerdau from a “sell” rating to a “hold” rating in a research report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $47.48.

Shares of SU opened at $32.28 on Friday. Suncor Energy has a 12 month low of $25.81 and a 12 month high of $42.55. The stock’s 50 day simple moving average is $31.18. The company has a market capitalization of $50.57 billion, a PE ratio of 16.14, a PEG ratio of 1.78 and a beta of 1.08. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.56.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, May 1st. The oil and gas producer reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.38. Suncor Energy had a net margin of 10.03% and a return on equity of 10.06%. The company had revenue of $7.07 billion for the quarter, compared to analysts’ expectations of $7.06 billion. During the same period last year, the firm earned $0.60 earnings per share. As a group, sell-side analysts forecast that Suncor Energy will post 2.45 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of SU. FIL Ltd boosted its stake in Suncor Energy by 4.4% in the first quarter. FIL Ltd now owns 44,367,061 shares of the oil and gas producer’s stock valued at $1,437,901,000 after acquiring an additional 1,862,871 shares during the last quarter. TD Asset Management Inc. boosted its stake in Suncor Energy by 1.7% in the first quarter. TD Asset Management Inc. now owns 38,746,904 shares of the oil and gas producer’s stock valued at $1,256,131,000 after acquiring an additional 630,678 shares during the last quarter. Sanders Capital LLC boosted its stake in Suncor Energy by 25.1% in the first quarter. Sanders Capital LLC now owns 24,516,616 shares of the oil and gas producer’s stock valued at $834,328,000 after acquiring an additional 4,914,700 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in Suncor Energy by 11.4% in the fourth quarter. 1832 Asset Management L.P. now owns 17,064,277 shares of the oil and gas producer’s stock valued at $477,093,000 after acquiring an additional 1,741,645 shares during the last quarter. Finally, Norges Bank purchased a new position in Suncor Energy in the fourth quarter valued at about $467,575,000. 65.18% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.

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Analyst Recommendations for Suncor Energy (NYSE:SU)

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