Suncor Energy (NYSE:SU) Upgraded at Tudor Pickering

Tudor Pickering upgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) from a hold rating to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. 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. Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a research report on Tuesday, January 7th. Finally, StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Suncor Energy presently has an average rating of “Moderate Buy” and an average price target of $58.00.

Suncor Energy Price Performance

Shares of Suncor Energy stock opened at $39.62 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. The company has a market cap of $49.31 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 2.96 and a beta of 1.12. The firm has a fifty day moving average price of $37.67 and a two-hundred day moving average price of $38.57. Suncor Energy has a fifty-two week low of $31.25 and a fifty-two week high of $41.94.

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

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be issued a $0.399 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.03%. Suncor Energy’s dividend payout ratio (DPR) is presently 46.67%.

Institutional Trading of Suncor Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. lifted its position in Suncor Energy by 1,324.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock valued at $123,774,000 after purchasing an additional 3,225,543 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Suncor Energy by 39.9% during the 4th quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock worth $346,298,000 after acquiring an additional 2,767,043 shares during the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of Suncor Energy by 2,061.8% during the 4th quarter. Jupiter Asset Management Ltd. now owns 2,438,291 shares of the oil and gas producer’s stock worth $86,990,000 after acquiring an additional 2,325,503 shares during the last quarter. Fisher Asset Management LLC grew its position in Suncor Energy by 97.4% in the fourth quarter. Fisher Asset Management LLC now owns 3,734,572 shares of the oil and gas producer’s stock worth $133,250,000 after acquiring an additional 1,842,791 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Suncor Energy by 23.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock valued at $357,827,000 after acquiring an additional 1,829,936 shares during the last quarter. Institutional investors 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.