Suncor Energy (NYSE:SU) Rating Increased to Buy at StockNews.com

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

SU has been the topic of several other reports. Raymond James upgraded Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. TD Securities increased their target price on Suncor Energy from $52.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, May 22nd. Morgan Stanley increased their target price on Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, The Goldman Sachs Group raised their price objective on Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.67.

Suncor Energy Price Performance

Shares of SU traded up $1.22 during trading hours on Monday, reaching $37.90. 6,702,591 shares of the company traded hands, compared to its average volume of 4,695,003. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $48.57 billion, a PE ratio of 8.44, a price-to-earnings-growth ratio of 3.52 and a beta of 1.11. Suncor Energy has a fifty-two week low of $28.26 and a fifty-two week high of $41.50. The stock has a fifty day simple moving average of $38.78 and a 200 day simple moving average of $35.57.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $8.64 billion. As a group, research analysts predict that Suncor Energy will post 3.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Suncor Energy

Hedge funds have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Suncor Energy by 10.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 29,873 shares of the oil and gas producer’s stock valued at $957,000 after buying an additional 2,895 shares during the period. Vanguard Group Inc. grew its stake in Suncor Energy by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 50,379,614 shares of the oil and gas producer’s stock valued at $1,732,051,000 after purchasing an additional 731,163 shares in the last quarter. Sanders Capital LLC grew its stake in Suncor Energy by 2.8% during the 4th quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock valued at $1,836,470,000 after purchasing an additional 1,568,629 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Suncor Energy by 13.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,348,348 shares of the oil and gas producer’s stock valued at $183,876,000 after purchasing an additional 628,262 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Suncor Energy by 1,689.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 565,339 shares of the oil and gas producer’s stock valued at $18,118,000 after purchasing an additional 533,754 shares in the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

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.