Suncor Energy (NYSE:SU) Cut to “Hold” at StockNews.com

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

Several other research firms have also weighed in on SU. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.40.

Suncor Energy Stock Performance

Suncor Energy stock opened at $35.86 on Monday. The firm has a market capitalization of $45.12 billion, a P/E ratio of 7.81, a P/E/G ratio of 2.43 and a beta of 1.11. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. The stock has a fifty day moving average price of $39.01 and a two-hundred day moving average price of $38.66. Suncor Energy has a 52-week low of $31.03 and a 52-week high of $41.94.

Hedge Funds Weigh In On Suncor Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Eastern Bank bought a new stake in Suncor Energy during the third quarter worth about $25,000. Summit Securities Group LLC bought a new stake in shares of Suncor Energy during the 2nd quarter worth approximately $27,000. Richardson Financial Services Inc. boosted its position in shares of Suncor Energy by 82.8% during the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 328 shares in the last quarter. Ridgewood Investments LLC bought a new position in Suncor Energy in the second quarter valued at approximately $29,000. Finally, Waldron Private Wealth LLC acquired a new position in Suncor Energy during the third quarter valued at approximately $49,000. Institutional investors and hedge funds 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.