Suncor Energy (NYSE:SU) Stock Rating Lowered by Zacks Research

Suncor Energy (NYSE:SU) (TSE:SU) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

SU has been the topic of a number of other reports. Wells Fargo & Company initiated coverage on Suncor Energy in a research note on Friday, October 17th. They issued an “equal weight” rating on the stock. Wall Street Zen downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a research note on Monday, December 29th. JPMorgan Chase & Co. upgraded shares of Suncor Energy from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $46.15 to $54.00 in a research note on Tuesday. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $65.00 price target on shares of Suncor Energy in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy presently has an average rating of “Moderate Buy” and an average price target of $55.67.

Suncor Energy Price Performance

Shares of SU opened at $50.50 on Tuesday. Suncor Energy has a fifty-two week low of $30.79 and a fifty-two week high of $50.82. The firm’s 50-day simple moving average is $44.99 and its two-hundred day simple moving average is $41.94. The stock has a market cap of $60.27 billion, a PE ratio of 16.56 and a beta of 0.46. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.85 and a current ratio of 1.35.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.22. The firm had revenue of $9.04 billion for the quarter, compared to analysts’ expectations of $8.82 billion. Suncor Energy had a return on equity of 13.01% and a net margin of 10.61%.During the same period in the previous year, the firm posted $1.48 EPS. Analysts anticipate that Suncor Energy will post 3.42 earnings per share for the current fiscal year.

Institutional Trading of Suncor Energy

Several large investors have recently added to or reduced their stakes in SU. Richardson Financial Services Inc. raised its position in Suncor Energy by 64.1% in the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after acquiring an additional 275 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Suncor Energy in the 2nd quarter worth $31,000. Maseco LLP bought a new position in Suncor Energy in the 2nd quarter worth $32,000. Hanson & Doremus Investment Management lifted its position in 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 purchasing an additional 465 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Suncor Energy by 95.8% during the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 388 shares during the period. 67.37% of the stock is currently owned by institutional investors.

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.