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

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

SU has been the subject of several other research reports. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a research report on Tuesday, January 7th. Finally, Morgan Stanley lowered Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Suncor Energy Price Performance

Suncor Energy stock traded up $0.47 during mid-day trading on Tuesday, reaching $39.86. 5,426,354 shares of the company’s stock traded hands, compared to its average volume of 4,561,982. Suncor Energy has a 12-month low of $31.03 and a 12-month high of $41.94. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The stock has a 50 day moving average of $38.07 and a two-hundred day moving average of $38.50. The company has a market cap of $49.61 billion, a price-to-earnings ratio of 8.68, a PEG ratio of 2.43 and a beta of 1.12.

Institutional Investors Weigh In On Suncor Energy

A number of institutional investors have recently added to or reduced their stakes in SU. Eastern Bank purchased a new stake in shares of Suncor Energy during the third quarter valued at $25,000. Richardson Financial Services Inc. increased its holdings in shares of Suncor Energy by 82.8% in the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 328 shares during the period. Waldron Private Wealth LLC purchased a new position in shares of Suncor Energy in the third quarter worth about $49,000. Transamerica Financial Advisors Inc. boosted its position in Suncor Energy by 2,311.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,977 shares of the oil and gas producer’s stock valued at $73,000 after buying an additional 1,895 shares during the last quarter. Finally, Mattson Financial Services LLC acquired a new position in Suncor Energy in the 2nd quarter worth approximately $82,000. 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.