Suncor Energy (NYSE:SU) Downgraded by StockNews.com

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

SU has been the topic of a number of other reports. Raymond James raised Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. The Goldman Sachs Group increased their price objective on Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Scotiabank decreased their target price on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Finally, Wolfe Research initiated coverage on shares of Suncor Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $68.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.83.

Suncor Energy Price Performance

Shares of NYSE SU traded down $0.50 during trading hours on Friday, reaching $37.22. 5,041,935 shares of the stock traded hands, compared to its average volume of 4,449,486. The company’s 50-day simple moving average is $38.90 and its two-hundred day simple moving average is $38.33. The company has a market capitalization of $47.29 billion, a P/E ratio of 8.29, a price-to-earnings-growth ratio of 2.47 and a beta of 1.13. Suncor Energy has a 52-week low of $29.45 and a 52-week high of $41.94. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, topping 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 firm had revenue of $12.90 billion during the quarter, compared to analyst estimates of $9.30 billion. During the same period in the previous year, the business posted $0.71 EPS. The business’s quarterly revenue was up 10.1% on a year-over-year basis. Equities research analysts forecast that Suncor Energy will post 3.71 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Johnson Financial Group Inc. bought a new position in shares of Suncor Energy in the 4th quarter worth about $25,000. Richardson Financial Services Inc. bought a new position in shares of Suncor Energy during the fourth quarter valued at approximately $25,000. Trust Co. of Vermont purchased a new position in shares of Suncor Energy during the second quarter valued at approximately $26,000. Summit Securities Group LLC purchased a new stake in shares of Suncor Energy in the 2nd quarter worth approximately $27,000. Finally, Ridgewood Investments LLC purchased a new stake in shares of Suncor Energy in the 2nd quarter worth approximately $29,000. 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.