Suncor Energy (NYSE:SU) Upgraded to “Buy” at Desjardins

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by stock analysts at Desjardins from a “hold” rating to a “buy” rating in a research report issued on Thursday,Briefing.com Automated Import reports.

A number of other brokerages have also recently weighed in on SU. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Wolfe Research began coverage on Suncor Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price target for the company. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average target price of $56.40.

Suncor Energy Price Performance

Shares of NYSE:SU opened at $39.61 on Thursday. 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 of $38.27 and a two-hundred day moving average of $38.74. The stock has a market capitalization of $49.98 billion, a P/E ratio of 8.63, a P/E/G ratio of 2.70 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.

Hedge Funds Weigh In On Suncor Energy

Several large investors have recently made changes to their positions in SU. Trust Co. of Vermont acquired a new position in Suncor Energy in the 2nd quarter valued at approximately $26,000. Eastern Bank acquired a new position in Suncor Energy in the 3rd quarter valued at approximately $25,000. Summit Securities Group LLC acquired a new position in Suncor Energy in the 2nd quarter valued at approximately $27,000. Richardson Financial Services Inc. raised its holdings in Suncor Energy by 82.8% in the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 328 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Suncor Energy in the 2nd quarter valued at approximately $29,000. Institutional investors and hedge funds 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.