StockNews.com Upgrades Suncor Energy (NYSE:SU) to “Buy”

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Other analysts also recently issued reports about the company. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.40.

Suncor Energy Stock Down 0.4 %

Shares of Suncor Energy stock opened at $40.83 on Tuesday. The business has a 50-day moving average of $38.66 and a 200-day moving average of $38.82. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. The company has a market capitalization of $51.52 billion, a PE ratio of 8.90, a P/E/G ratio of 2.79 and a beta of 1.12. Suncor Energy has a 1-year low of $29.45 and a 1-year high of $41.94.

Hedge Funds Weigh In On Suncor Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Aigen Investment Management LP acquired a new position in Suncor Energy in the third quarter valued at approximately $1,376,000. Assenagon Asset Management S.A. raised its holdings in shares of Suncor Energy by 90.9% during the second quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock valued at $316,226,000 after buying an additional 3,951,287 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Suncor Energy by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,529,253 shares of the oil and gas producer’s stock valued at $683,916,000 after buying an additional 1,031,542 shares during the last quarter. Mediolanum International Funds Ltd raised its holdings in shares of Suncor Energy by 22.5% during the third quarter. Mediolanum International Funds Ltd now owns 250,849 shares of the oil and gas producer’s stock valued at $9,245,000 after buying an additional 46,155 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Suncor Energy during the second quarter valued at approximately $2,448,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

About Suncor Energy

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.