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

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

Other research analysts have also recently issued research reports about the company. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Scotiabank reduced their price objective on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Finally, Wolfe Research assumed coverage on shares of Suncor Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $68.00 target price for the company. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Suncor Energy has an average rating of “Moderate Buy” and a consensus target price of $55.83.

Suncor Energy Stock Up 0.8 %

Suncor Energy stock opened at $36.80 on Friday. Suncor Energy has a 52 week low of $29.45 and a 52 week high of $41.94. The stock has a market cap of $46.75 billion, a price-to-earnings ratio of 8.20, a PEG ratio of 2.57 and a beta of 1.13. The company’s 50-day moving average price is $38.76 and its two-hundred day moving average price is $38.47. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The business had revenue of $12.90 billion for the quarter, compared to analyst estimates of $9.30 billion. During the same quarter last year, the business earned $0.71 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, analysts expect that Suncor Energy will post 3.71 EPS for the current fiscal year.

Institutional Trading of Suncor Energy

Several large investors have recently added to or reduced their stakes in SU. Richardson Financial Services Inc. purchased a new stake in shares of Suncor Energy in the fourth quarter worth approximately $25,000. Trust Co. of Vermont purchased a new stake in Suncor Energy in the 2nd quarter worth approximately $26,000. Summit Securities Group LLC acquired a new stake in shares of Suncor Energy during the 2nd quarter valued at $27,000. Ridgewood Investments LLC purchased a new position in shares of Suncor Energy during the 2nd quarter valued at $29,000. Finally, Adirondack Trust Co. grew its holdings in shares of Suncor Energy by 45.6% during the 4th quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 313 shares in the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

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.