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

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

SU has been the subject of several other research reports. Scotiabank reduced their target price on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company 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 report on Wednesday, August 7th. Wolfe Research began coverage on shares of Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price target for the company. Finally, TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.83.

Suncor Energy Trading Up 0.8 %

Shares of NYSE:SU opened at $36.81 on Friday. The company has a market cap of $46.77 billion, a P/E ratio of 8.20, a P/E/G ratio of 2.57 and a beta of 1.13. The stock’s 50-day moving average is $38.80 and its 200-day moving average is $38.41. Suncor Energy has a 52-week low of $29.45 and a 52-week high of $41.94. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $9.30 billion. During the same quarter last year, the company earned $0.71 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. Equities research analysts predict that Suncor Energy will post 3.71 earnings per share for the current year.

Institutional Investors Weigh In On Suncor Energy

Large investors have recently modified their holdings of the company. Toronto Dominion Bank lifted its stake in shares of Suncor Energy by 59.7% in the first quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock valued at $649,872,000 after buying an additional 6,580,260 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Suncor Energy by 90.9% in the second quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock worth $316,226,000 after acquiring an additional 3,951,287 shares during the period. National Bank of Canada FI raised its position in Suncor Energy by 60.7% in the second quarter. National Bank of Canada FI now owns 8,661,861 shares of the oil and gas producer’s stock worth $328,876,000 after acquiring an additional 3,272,896 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in Suncor Energy by 305.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,725,000 shares of the oil and gas producer’s stock worth $63,687,000 after acquiring an additional 1,300,000 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Suncor Energy by 5.1% in the second quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock worth $956,850,000 after acquiring an additional 1,209,073 shares during the period. 67.37% of the stock is currently 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.