Suncor Energy (NYSE:SU) Rating Increased to Buy at StockNews.com

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Several other equities research analysts have also recently issued reports on SU. Raymond James upgraded Suncor Energy to a “hold” rating in a report on Tuesday, May 28th. The Goldman Sachs Group raised their target price on shares of Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Wolfe Research started coverage on shares of Suncor Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $68.00 target price on the stock. 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. Finally, BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $54.75.

Suncor Energy Price Performance

SU stock traded up $1.08 during trading on Thursday, hitting $39.78. The stock had a trading volume of 4,139,872 shares, compared to its average volume of 4,483,194. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 0.97. Suncor Energy has a twelve month low of $29.45 and a twelve month high of $41.50. The stock has a market capitalization of $50.98 billion, a P/E ratio of 8.86, a PEG ratio of 3.34 and a beta of 1.12. The company’s 50-day moving average price is $38.09 and its two-hundred day moving average price is $36.96.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.51. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. The company had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $9.30 billion. During the same period in the previous year, the firm posted $0.71 EPS. Suncor Energy’s revenue was up 10.1% compared to the same quarter last year. As a group, research analysts predict that Suncor Energy will post 3.67 EPS for the current fiscal year.

Institutional Trading of Suncor Energy

Several institutional investors have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC raised its position in Suncor Energy by 10.7% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 29,873 shares of the oil and gas producer’s stock valued at $957,000 after purchasing an additional 2,895 shares during the period. Sanders Capital LLC raised its position in Suncor Energy by 2.8% in the fourth quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock valued at $1,836,470,000 after purchasing an additional 1,568,629 shares during the period. Sapient Capital LLC purchased a new stake in Suncor Energy in the fourth quarter valued at approximately $1,100,000. NewEdge Wealth LLC grew its stake in shares of Suncor Energy by 9.9% in the fourth quarter. NewEdge Wealth LLC now owns 587,664 shares of the oil and gas producer’s stock worth $18,829,000 after acquiring an additional 52,802 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Suncor Energy by 2,358.4% in the first quarter. BNP Paribas Financial Markets now owns 17,209 shares of the oil and gas producer’s stock worth $635,000 after acquiring an additional 16,509 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

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.