Suncor Energy (NYSE:SU) Issues Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Suncor Energy (NYSE:SUGet Free Report) (TSE:SU) issued its quarterly earnings data on Tuesday. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.19, Zacks reports. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%.

Suncor Energy Trading Down 2.3%

Shares of SU traded down $1.49 during mid-day trading on Tuesday, hitting $64.49. 5,551,764 shares of the company’s stock traded hands, compared to its average volume of 4,774,849. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $76.15 billion, a P/E ratio of 16.93, a PEG ratio of 0.50 and a beta of 0.29. The business’s 50-day moving average price is $60.59 and its 200-day moving average price is $60.30. Suncor Energy has a 1 year low of $37.76 and a 1 year high of $70.29.

Analyst Ratings Changes

SU has been the topic of several recent analyst reports. Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Wall Street Zen lowered Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday. Scotiabank raised Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Desjardins upgraded Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. Finally, Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Suncor Energy has a consensus rating of “Buy” and an average target price of $71.67.

View Our Latest Analysis on SU

Institutional Trading of Suncor Energy

Large investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new position in Suncor Energy during the 2nd quarter valued at $31,000. Summit Securities Group LLC purchased a new stake in shares of Suncor Energy in the 4th quarter worth about $44,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Suncor Energy by 10,133.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,228 shares of the oil and gas producer’s stock worth $54,000 after purchasing an additional 1,216 shares during the period. WealthCollab LLC boosted its stake in shares of Suncor Energy by 38.5% during the 2nd quarter. WealthCollab LLC now owns 1,701 shares of the oil and gas producer’s stock valued at $64,000 after purchasing an additional 473 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Suncor Energy during the 4th quarter valued at about $66,000. Institutional investors own 67.37% of the company’s stock.

About Suncor Energy

(Get Free Report)

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.

Further Reading

Earnings History for Suncor Energy (NYSE:SU)

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