Royal Bank of Canada Reaffirms “Outperform” Rating for Suncor Energy (NYSE:SU)

Suncor Energy (NYSE:SU) (TSE:SU)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank of Canada in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $66.00 price target on the oil and gas producer’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 91.30% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. StockNews.com downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Monday, December 16th. Finally, Morgan Stanley cut shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Stock Down 0.3 %

Shares of Suncor Energy stock opened at $34.50 on Friday. The firm has a market cap of $43.41 billion, a PE ratio of 7.52, a P/E/G ratio of 2.43 and a beta of 1.11. The business’s 50 day simple moving average is $38.68 and its 200 day simple moving average is $38.58. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. Suncor Energy has a 52-week low of $31.03 and a 52-week high of $41.94.

Institutional Investors Weigh In On Suncor Energy

A number of institutional investors and hedge funds have recently modified their holdings of SU. Eastern Bank acquired a new position in Suncor Energy during the third quarter worth approximately $25,000. Summit Securities Group LLC acquired a new position in shares of Suncor Energy during the 2nd quarter worth approximately $27,000. Richardson Financial Services Inc. raised its stake in Suncor Energy by 82.8% in the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 328 shares during the period. Ridgewood Investments LLC acquired a new stake in Suncor Energy during the 2nd quarter valued at $29,000. Finally, Waldron Private Wealth LLC bought a new position in Suncor Energy during the third quarter worth $49,000. 67.37% of the stock is owned by 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.