Suncor Energy (NYSE:SU) Downgraded to “Hold” at StockNews.com

Suncor Energy (NYSE:SUGet Free Report) (TSE:SU) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

A number of other brokerages also recently issued reports on SU. The Goldman Sachs Group increased their price objective on shares of Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Morgan Stanley lifted their price objective on shares of Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Raymond James upgraded Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. Finally, TD Securities lifted their price target on Suncor Energy from $52.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, May 22nd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.67.

View Our Latest Research Report on Suncor Energy

Suncor Energy Price Performance

Shares of NYSE SU traded up $0.44 during midday trading on Wednesday, reaching $37.90. The company’s stock had a trading volume of 3,323,312 shares, compared to its average volume of 4,641,720. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 1.51. The company has a market cap of $48.56 billion, a P/E ratio of 8.44, a P/E/G ratio of 3.60 and a beta of 1.12. The business’s 50 day moving average price is $38.65 and its two-hundred day moving average price is $36.13. Suncor Energy has a fifty-two week low of $28.65 and a fifty-two week high of $41.50.

Suncor Energy (NYSE:SUGet Free Report) (TSE:SU) last released its earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. The firm had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $8.64 billion. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. On average, analysts forecast that Suncor Energy will post 3.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Suncor Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in SU. Vanguard Personalized Indexing Management LLC lifted its holdings in Suncor Energy by 10.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 29,873 shares of the oil and gas producer’s stock worth $957,000 after buying an additional 2,895 shares during the period. Vanguard Group Inc. increased its position in Suncor Energy by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 50,379,614 shares of the oil and gas producer’s stock valued at $1,732,051,000 after purchasing an additional 731,163 shares during the period. Sanders Capital LLC raised its holdings in Suncor Energy by 2.8% during the 4th quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock worth $1,836,470,000 after purchasing an additional 1,568,629 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Suncor Energy by 1,689.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 565,339 shares of the oil and gas producer’s stock worth $18,118,000 after purchasing an additional 533,754 shares during the period. Finally, Sapient Capital LLC bought a new stake in shares of Suncor Energy in the 4th quarter valued at $1,100,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Company Profile

(Get Free Report)

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.

Featured Articles

Analyst Recommendations for Suncor Energy (NYSE:SU)

Receive News & Ratings for Suncor Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Suncor Energy and related companies with MarketBeat.com's FREE daily email newsletter.