Suncor Energy (NYSE:SU – Get Free Report) (TSE:SU) was upgraded by Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report issued on Wednesday, Marketbeat reports.
A number of other analysts have also recently weighed in on SU. Wall Street Zen cut Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Desjardins raised shares of Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 29th. The Goldman Sachs Group lowered Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a research note on Friday, June 5th. Finally, Zacks Research cut Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Suncor Energy presently has an average rating of “Moderate Buy” and a consensus target price of $71.67.
Read Our Latest Research Report on SU
Suncor Energy Stock Performance
Suncor Energy (NYSE:SU – Get Free Report) (TSE:SU) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.19. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. The business had revenue of $13.41 billion during the quarter, compared to analyst estimates of $11.68 billion. During the same quarter in the prior year, the business earned $0.71 earnings per share. Equities analysts forecast that Suncor Energy will post 7.39 earnings per share for the current fiscal year.
Institutional Trading of Suncor Energy
Several hedge funds and other institutional investors have recently modified their holdings of SU. Versant Capital Management Inc boosted its holdings in Suncor Energy by 418.9% in the 2nd quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 398 shares during the period. Headlands Technologies LLC bought a new stake in shares of Suncor Energy in the second quarter valued at approximately $31,000. 1 North Wealth Services LLC bought a new position in Suncor Energy during the 4th quarter worth $32,000. Accent Capital Management LLC grew its holdings in shares of Suncor Energy by 37.5% during the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 225 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of Suncor Energy during the 4th quarter worth $44,000. Institutional investors own 67.37% of the company’s stock.
Suncor Energy Company Profile
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.
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