Suncor Energy (NYSE:SU) Upgraded at Cibc World Mkts

Cibc World Mkts upgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) from a hold rating to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.

A number of other analysts have also recently issued reports on SU. Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a report on Tuesday, January 7th. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Finally, Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Suncor Energy has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Stock Performance

NYSE:SU opened at $39.91 on Tuesday. The firm has a market capitalization of $49.67 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 2.96 and a beta of 1.12. Suncor Energy has a 1-year low of $31.31 and a 1-year high of $41.94. The company’s 50-day moving average is $37.70 and its two-hundred day moving average is $38.58. 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 (EPS) 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%. Analysts forecast that Suncor Energy will post 3.25 EPS for the current year.

Suncor Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.399 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.00%. Suncor Energy’s dividend payout ratio (DPR) is currently 46.67%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC boosted its holdings in Suncor Energy by 32.3% during the third quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer’s stock worth $3,035,000 after purchasing an additional 20,081 shares during the last quarter. Intech Investment Management LLC lifted its holdings in Suncor Energy by 1,345.8% during the 3rd quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer’s stock worth $17,309,000 after purchasing an additional 436,016 shares in the last quarter. Aigen Investment Management LP purchased a new position in Suncor Energy during the third quarter valued at approximately $1,376,000. Assenagon Asset Management S.A. raised its position in shares of Suncor Energy by 1,324.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock worth $123,774,000 after buying an additional 3,225,543 shares in the last quarter. Finally, DRW Securities LLC purchased a new stake in shares of Suncor Energy in the 3rd quarter valued at about $1,151,000. 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.