Suncor Energy (NYSE:SU) Raised to Strong-Buy at Zacks Research

Suncor Energy (NYSE:SUGet Free Report) (TSE:SU) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research firms have also recently issued reports on SU. Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Wall Street Zen downgraded shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Royal Bank Of Canada raised their price objective on shares of Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. Finally, The Goldman Sachs Group downgraded shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a report on Friday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Suncor Energy currently has an average rating of “Buy” and an average price target of $71.67.

Read Our Latest Stock Report on Suncor Energy

Suncor Energy Trading Up 3.2%

Shares of Suncor Energy stock opened at $56.69 on Monday. 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 cap of $66.94 billion, a price-to-earnings ratio of 14.88 and a beta of 0.30. Suncor Energy has a 52-week low of $37.76 and a 52-week high of $70.29. The company’s 50-day simple moving average is $62.00 and its 200-day simple moving average is $57.81.

Suncor Energy (NYSE:SUGet Free Report) (TSE:SU) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The business had revenue of $10.41 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the prior year, the firm posted $1.31 EPS. As a group, equities research analysts anticipate that Suncor Energy will post 7.07 earnings per share for the current year.

Institutional Trading of Suncor Energy

Several institutional investors and hedge funds have recently modified their holdings of SU. Versant Capital Management Inc increased its stake in shares of Suncor Energy by 418.9% during the 2nd quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 398 shares in the last quarter. Atlantic Edge Private Wealth Management LLC lifted its stake in Suncor Energy by 54.9% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 225 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Suncor Energy during the 2nd quarter valued at $31,000. 1 North Wealth Services LLC acquired a new stake in Suncor Energy during the 4th quarter valued at $32,000. Finally, Accent Capital Management LLC increased its position in Suncor Energy by 37.5% during the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Company Profile

(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.

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Analyst Recommendations for Suncor Energy (NYSE:SU)

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