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

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

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

Suncor Energy Trading Up 1.0 %

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

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

Hedge Funds Weigh In On Suncor Energy

A number of institutional investors have recently modified their holdings of the company. Toronto Dominion Bank grew its stake in shares of Suncor Energy by 59.7% in the first quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock worth $649,872,000 after acquiring an additional 6,580,260 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Suncor Energy by 90.9% in the second quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock worth $316,226,000 after acquiring an additional 3,951,287 shares during the last quarter. National Bank of Canada FI grew its stake in shares of Suncor Energy by 60.7% in the second quarter. National Bank of Canada FI now owns 8,661,861 shares of the oil and gas producer’s stock worth $328,876,000 after acquiring an additional 3,272,896 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Suncor Energy by 305.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,725,000 shares of the oil and gas producer’s stock worth $63,687,000 after buying an additional 1,300,000 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Suncor Energy by 23.0% during the third quarter. Principal Financial Group Inc. now owns 6,939,573 shares of the oil and gas producer’s stock worth $256,429,000 after buying an additional 1,296,142 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

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.