Royal Bank of Canada Reaffirms Outperform Rating for Suncor Energy (NYSE:SU)

Suncor Energy (NYSE:SU) (TSE:SU)‘s stock had its “outperform” rating reiterated by equities research analysts at Royal Bank of Canada in a research note issued on Tuesday,Benzinga reports. They presently have a $66.00 price target on the oil and gas producer’s stock. Royal Bank of Canada’s target price indicates a potential upside of 73.50% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, December 26th. Morgan Stanley lowered Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Finally, Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Price Performance

SU traded up $1.08 on Tuesday, hitting $38.04. 1,217,059 shares of the company’s stock were exchanged, compared to its average volume of 2,346,157. Suncor Energy has a fifty-two week low of $31.03 and a fifty-two week high of $41.94. The stock has a market cap of $47.63 billion, a price-to-earnings ratio of 8.29, a P/E/G ratio of 2.43 and a beta of 1.12. The firm has a 50-day moving average price of $37.96 and a 200-day moving average price of $38.45. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24.

Institutional Investors Weigh In On Suncor Energy

A number of large investors have recently modified their holdings of the company. Sanctuary Advisors LLC increased its holdings in Suncor Energy by 32.3% in the third quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer’s stock valued at $3,035,000 after buying an additional 20,081 shares during the last quarter. Intech Investment Management LLC lifted its stake in Suncor Energy by 1,345.8% during the third quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer’s stock worth $17,309,000 after purchasing an additional 436,016 shares during the last quarter. Aigen Investment Management LP acquired a new position in Suncor Energy in the third quarter valued at $1,376,000. DRW Securities LLC acquired a new position in shares of Suncor Energy in the 3rd quarter valued at $1,151,000. Finally, Mediolanum International Funds Ltd boosted its stake in Suncor Energy by 22.5% during the 3rd quarter. Mediolanum International Funds Ltd now owns 250,849 shares of the oil and gas producer’s stock worth $9,245,000 after purchasing an additional 46,155 shares during the period. 67.37% of the stock is 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.