Suncor Energy (NYSE:SU) Stock Rating Lowered by 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 note issued to investors on Saturday.

Several other equities analysts have also commented on the company. TD Securities upped their target price on Suncor Energy from $52.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, May 22nd. Raymond James upgraded Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. Wolfe Research initiated coverage on Suncor Energy in a research report on Thursday. They issued an “outperform” rating and a $68.00 target price on the stock. Scotiabank reduced their price target on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Finally, The Goldman Sachs Group increased their price objective on shares of Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.75.

Suncor Energy Stock Performance

Shares of SU opened at $38.52 on Friday. The stock has a market capitalization of $49.36 billion, a PE ratio of 8.58, a price-to-earnings-growth ratio of 3.65 and a beta of 1.12. The business’s fifty day moving average price is $38.58 and its 200 day moving average price is $36.46. 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 12-month low of $28.78 and a 12-month high of $41.50.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. The company had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $8.64 billion. Equities research analysts forecast that Suncor Energy will post 3.52 EPS for the current year.

Institutional Trading of Suncor Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank increased its stake in shares of Suncor Energy by 59.7% during 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 acquiring an additional 6,580,260 shares during the period. TD Asset Management Inc raised its stake in shares of Suncor Energy by 16.8% in the 4th quarter. TD Asset Management Inc now owns 32,070,496 shares of the oil and gas producer’s stock worth $1,032,453,000 after buying an additional 4,612,764 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of 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 valued at $316,226,000 after buying an additional 3,951,287 shares during the period. AGF Management Ltd. boosted its stake in Suncor Energy by 454.9% during the fourth quarter. AGF Management Ltd. now owns 3,586,421 shares of the oil and gas producer’s stock valued at $114,909,000 after buying an additional 2,940,103 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Suncor Energy by 8.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 22,384,816 shares of the oil and gas producer’s stock worth $717,210,000 after acquiring an additional 1,725,969 shares during the period. 67.37% of the stock is currently owned by 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.