Bank of America Begins Coverage on Suncor Energy (NYSE:SU)

Investment analysts at Bank of America started coverage on shares of Suncor Energy (NYSE:SU) (TSE:SU) in a report issued on Wednesday. The brokerage set a “neutral” rating on the oil and gas producer’s stock.

SU has been the subject of a number of other research reports. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Morgan Stanley lowered Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $66.00 target price on shares of Suncor Energy in a research note on Tuesday, January 7th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Price Performance

SU opened at $38.23 on Wednesday. Suncor Energy has a twelve month low of $33.26 and a twelve month high of $41.94. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The firm has a market cap of $47.58 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 2.94 and a beta of 1.12. The company has a fifty day simple moving average of $38.20 and a 200 day simple moving average of $38.65.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. Equities research analysts expect that Suncor Energy will post 3.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. HHM Wealth Advisors LLC lifted its stake in Suncor Energy by 62.1% in the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after acquiring an additional 325 shares during the last quarter. Crowley Wealth Management Inc. bought a new position in shares of Suncor Energy during the 4th quarter valued at $35,000. Lee Danner & Bass Inc. bought a new position in shares of Suncor Energy during the 4th quarter valued at $36,000. Golden State Wealth Management LLC acquired a new stake in shares of Suncor Energy in the 4th quarter valued at $39,000. Finally, Covestor Ltd boosted its holdings in Suncor Energy by 30.5% in the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock worth $39,000 after purchasing an additional 256 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

About Suncor Energy

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.