StockNews.com Downgrades Suncor Energy (NYSE:SU) to Hold

Suncor Energy (NYSE:SU) (TSE:SU) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

SU has been the topic of several other research reports. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a research note on Tuesday, January 7th. Morgan Stanley cut shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Cibc World Mkts raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Finally, Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Suncor Energy has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Price Performance

Shares of SU traded down $0.48 during mid-day trading on Tuesday, reaching $38.66. The stock had a trading volume of 4,530,858 shares, compared to its average volume of 4,496,944. The business has a fifty day moving average of $38.06 and a 200 day moving average of $38.66. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The firm has a market cap of $48.11 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 2.94 and a beta of 1.12. Suncor Energy has a 12 month low of $33.26 and a 12 month high of $41.94.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC boosted its holdings in shares of Suncor Energy by 32.3% in the 3rd 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 period. Intech Investment Management LLC lifted its position in Suncor Energy by 1,345.8% in the third quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer’s stock worth $17,309,000 after buying an additional 436,016 shares during the last quarter. Aigen Investment Management LP purchased a new position in Suncor Energy during the third quarter worth $1,376,000. J.W. Cole Advisors Inc. purchased a new stake in shares of Suncor Energy in the fourth quarter valued at $236,000. Finally, Assenagon Asset Management S.A. raised its stake 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 valued at $123,774,000 after acquiring an additional 3,225,543 shares during the period. Hedge funds and other 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.