Suncor Energy (NYSE:SU) Upgraded to “Buy” at Tudor, Pickering, Holt & Co.

Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) from a hold rating to a buy rating in a research note issued to investors on Monday, MarketBeat reports.

Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 price objective on shares of Suncor Energy in a research report on Tuesday, January 7th. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Stock Performance

Shares of SU opened at $39.53 on Monday. The company has a market cap of $49.19 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 2.96 and a beta of 1.12. The firm has a 50-day moving average of $37.63 and a 200-day moving average of $38.55. Suncor Energy has a one year low of $31.25 and a one year high of $41.94. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.33% and a net margin of 11.80%. As a group, equities analysts forecast that Suncor Energy will post 3.25 earnings per share for the current year.

Suncor Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be paid a $0.399 dividend. This represents a $1.60 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 45.22%.

Hedge Funds Weigh In On Suncor Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Toronto Dominion Bank lifted its position in shares of Suncor Energy by 1.8% during the 3rd quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock valued at $684,726,000 after acquiring an additional 333,440 shares during the period. CIBC Asset Management Inc boosted its position in shares of Suncor Energy by 1.3% during the 3rd quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock worth $516,728,000 after purchasing an additional 180,533 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Suncor Energy by 4.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,132,812 shares of the oil and gas producer’s stock valued at $361,227,000 after buying an additional 437,252 shares during the period. Principal Financial Group Inc. increased its position in Suncor Energy by 39.9% in the 4th quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock valued at $346,298,000 after buying an additional 2,767,043 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Suncor Energy by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,891,596 shares of the oil and gas producer’s stock worth $220,955,000 after buying an additional 413,797 shares during the period. Institutional investors own 67.37% of the company’s stock.

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.