StockNews.com Downgrades Suncor Energy (NYSE:SU) to Hold

Suncor Energy (NYSE:SU) (TSE:SU) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

SU has been the subject of several other research reports. Wolfe Research began coverage on shares of Suncor Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price target for the company. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Finally, Scotiabank cut their price objective on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $55.83.

Suncor Energy Stock Performance

NYSE SU opened at $39.11 on Thursday. The company has a fifty day simple moving average of $39.03 and a 200 day simple moving average of $38.73. Suncor Energy has a 12-month low of $29.45 and a 12-month high of $41.94. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. The company has a market cap of $49.34 billion, a P/E ratio of 9.07, a PEG ratio of 2.69 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The business had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $9.30 billion. During the same quarter last year, the firm posted $0.71 EPS. Suncor Energy’s revenue was up 10.1% compared to the same quarter last year. Sell-side analysts predict that Suncor Energy will post 3.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Suncor Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in SU. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Suncor Energy in the 4th quarter worth about $2,804,000. Fisher Asset Management LLC raised its stake in Suncor Energy by 38.4% in the 4th quarter. Fisher Asset Management LLC now owns 7,479 shares of the oil and gas producer’s stock valued at $240,000 after acquiring an additional 2,076 shares during the period. Vanguard Group Inc. raised its stake in Suncor Energy by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 50,534,957 shares of the oil and gas producer’s stock valued at $1,619,140,000 after acquiring an additional 155,343 shares during the period. CWM LLC raised its stake in Suncor Energy by 16.7% in the 1st quarter. CWM LLC now owns 3,820 shares of the oil and gas producer’s stock valued at $141,000 after acquiring an additional 547 shares during the period. Finally, Gulf International Bank UK Ltd raised its stake in Suncor Energy by 8.0% in the 1st quarter. Gulf International Bank UK Ltd now owns 12,868 shares of the oil and gas producer’s stock valued at $475,000 after acquiring an additional 955 shares during the period. 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.