Suncor Energy (NYSE:SU) Stock Rating Upgraded by StockNews.com

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

A number of other analysts have also issued reports on the stock. Scotiabank dropped their price target on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Wolfe Research initiated coverage on shares of Suncor Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price target for the company. Finally, TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.83.

Suncor Energy Trading Up 1.0 %

SU stock traded up $0.38 during midday trading on Thursday, reaching $39.59. 2,342,912 shares of the company’s stock traded hands, compared to its average volume of 4,221,720. The company has a market capitalization of $49.95 billion, a P/E ratio of 9.19, a PEG ratio of 2.71 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93. Suncor Energy has a fifty-two week low of $29.45 and a fifty-two week high of $41.94. The business has a 50-day moving average price of $38.39 and a two-hundred day moving average price of $38.75.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The business had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $9.30 billion. During the same period in the previous year, the company posted $0.71 earnings per share. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities research analysts forecast that Suncor Energy will post 3.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Suncor Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Natixis Advisors LLC boosted its position in shares of Suncor Energy by 21.6% during the 3rd quarter. Natixis Advisors LLC now owns 1,163,787 shares of the oil and gas producer’s stock valued at $42,967,000 after purchasing an additional 206,992 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Suncor Energy by 1.3% during the 3rd quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock valued at $516,728,000 after purchasing an additional 180,533 shares in the last quarter. OneDigital Investment Advisors LLC boosted its position in shares of Suncor Energy by 137.6% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 27,611 shares of the oil and gas producer’s stock valued at $1,019,000 after purchasing an additional 15,991 shares in the last quarter. Metis Global Partners LLC boosted its holdings in shares of Suncor Energy by 4.6% in the third quarter. Metis Global Partners LLC now owns 76,110 shares of the oil and gas producer’s stock worth $2,809,000 after buying an additional 3,350 shares during the period. Finally, Zions Bancorporation N.A. boosted its holdings in shares of Suncor Energy by 67.6% in the third quarter. Zions Bancorporation N.A. now owns 23,761 shares of the oil and gas producer’s stock worth $877,000 after buying an additional 9,582 shares during the period. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.