Suncor Energy (NYSE:SU) Price Target Cut to $60.00

Suncor Energy (NYSE:SU) (TSE:SU) had its price objective decreased by Scotiabank from $61.00 to $60.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the oil and gas producer’s stock. Scotiabank’s price target suggests a potential upside of 56.78% from the stock’s current price.

Several other research firms have also recently weighed in on SU. StockNews.com cut Suncor Energy from a “buy” rating to a “hold” rating in a report on Wednesday. Raymond James raised shares of Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. The Goldman Sachs Group lifted their price objective on shares of Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Morgan Stanley upped their target price on shares of Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, TD Securities lifted their price target on Suncor Energy from $52.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, May 22nd. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $52.86.

Suncor Energy Price Performance

NYSE:SU traded up $0.04 on Friday, reaching $38.27. 2,071,115 shares of the company’s stock traded hands, compared to its average volume of 4,606,771. The firm has a market cap of $49.04 billion, a PE ratio of 8.52, a P/E/G ratio of 3.59 and a beta of 1.12. 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 50-day simple moving average of $38.65 and a 200-day simple moving average of $36.14. Suncor Energy has a 12 month low of $28.65 and a 12 month high of $41.50.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.15. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. The company had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $8.64 billion. Equities research analysts forecast that Suncor Energy will post 3.52 earnings per share for the current year.

Hedge Funds Weigh In On Suncor Energy

Large investors have recently bought and sold shares of the business. Deutsche Bank AG increased its position in shares of Suncor Energy by 5.7% during the third quarter. Deutsche Bank AG now owns 1,122,327 shares of the oil and gas producer’s stock worth $38,586,000 after acquiring an additional 60,236 shares during the period. American Century Companies Inc. grew its stake in Suncor Energy by 43.9% in the third quarter. American Century Companies Inc. now owns 570,625 shares of the oil and gas producer’s stock worth $19,624,000 after purchasing an additional 174,080 shares in the last quarter. Wellington Management Group LLP increased its holdings in Suncor Energy by 3.8% during the 3rd quarter. Wellington Management Group LLP now owns 794,284 shares of the oil and gas producer’s stock worth $27,392,000 after purchasing an additional 29,322 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in Suncor Energy during the 3rd quarter valued at $323,000. Finally, Headinvest LLC bought a new stake in Suncor Energy during the 3rd quarter valued at $40,000. Hedge funds and other 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.