Suncor Energy (NYSE:SU) Downgraded to Hold at StockNews.com

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

Several other research firms have also commented on SU. Wolfe Research assumed coverage on Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 target price on the stock. Scotiabank decreased their target price on 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 Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Finally, TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $55.83.

Suncor Energy Stock Up 0.9 %

Shares of SU traded up $0.33 during midday trading on Thursday, hitting $38.98. The company had a trading volume of 2,088,794 shares, compared to its average volume of 4,346,439. The company’s 50-day simple moving average is $39.04 and its 200-day simple moving average is $38.72. 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 has a 1 year low of $29.45 and a 1 year high of $41.94. The firm has a market capitalization of $49.18 billion, a P/E ratio of 9.04, a P/E/G ratio of 2.69 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) 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 company had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $9.30 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, sell-side analysts expect that Suncor Energy will post 3.71 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky acquired a new position in Suncor Energy in the 4th quarter valued at about $2,804,000. Fisher Asset Management LLC increased its holdings in shares of Suncor Energy by 38.4% in the fourth quarter. Fisher Asset Management LLC now owns 7,479 shares of the oil and gas producer’s stock valued at $240,000 after purchasing an additional 2,076 shares during the period. Vanguard Group Inc. raised its stake in shares of Suncor Energy by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 50,534,957 shares of the oil and gas producer’s stock worth $1,619,140,000 after purchasing an additional 155,343 shares during the last quarter. CWM LLC lifted its holdings in shares of Suncor Energy by 16.7% during the first quarter. CWM LLC now owns 3,820 shares of the oil and gas producer’s stock worth $141,000 after purchasing an additional 547 shares during the period. Finally, Gulf International Bank UK Ltd grew its position in Suncor Energy by 8.0% in the 1st quarter. Gulf International Bank UK Ltd now owns 12,868 shares of the oil and gas producer’s stock valued at $475,000 after buying an additional 955 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

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.