Suncor Energy (NYSE:SU) Cut to “Strong Sell” at Zacks Research

Suncor Energy (NYSE:SU) (TSE:SU) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Wednesday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Suncor Energy in a report on Wednesday, October 8th. Royal Bank Of Canada restated an “outperform” rating and issued a $65.00 price target on shares of Suncor Energy in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $65.00.

Suncor Energy Trading Down 1.4%

SU stock opened at $38.57 on Wednesday. The firm’s fifty day simple moving average is $40.71 and its two-hundred day simple moving average is $38.27. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $46.63 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 3.09 and a beta of 0.78. Suncor Energy has a twelve month low of $30.79 and a twelve month high of $43.48.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The firm had revenue of $8.81 billion for the quarter, compared to analysts’ expectations of $11.56 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same period in the prior year, the business posted $1.27 earnings per share. As a group, analysts anticipate that Suncor Energy will post 3.42 earnings per share for the current year.

Institutional Trading of Suncor Energy

A number of hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new stake in shares of Suncor Energy during the second quarter valued at about $31,000. Maseco LLP purchased a new stake in shares of Suncor Energy during the second quarter valued at about $32,000. Hanson & Doremus Investment Management lifted its position in shares of Suncor Energy by 143.5% during the third quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 465 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of Suncor Energy during the first quarter valued at about $36,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of Suncor Energy during the second quarter valued at about $37,000. 67.37% of the stock is owned by hedge funds and other 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.