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

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by research analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

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

Suncor Energy Stock Performance

Shares of SU stock opened at $39.62 on Tuesday. The firm has a 50 day moving average of $37.70 and a 200-day moving average of $38.58. The company has a market cap of $49.31 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 2.96 and a beta of 1.12. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. Suncor Energy has a 52 week low of $31.25 and a 52 week high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.33%. On average, equities analysts forecast that Suncor Energy will post 3.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SU. Grantham Mayo Van Otterloo & Co. LLC bought a new position in shares of Suncor Energy during the 4th quarter valued at approximately $5,140,000. Dynamic Technology Lab Private Ltd raised its holdings in shares of Suncor Energy by 16.2% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 42,168 shares of the oil and gas producer’s stock worth $1,505,000 after purchasing an additional 5,884 shares during the period. ExodusPoint Capital Management LP lifted its stake in Suncor Energy by 1,037.7% in the fourth quarter. ExodusPoint Capital Management LP now owns 282,900 shares of the oil and gas producer’s stock valued at $10,094,000 after purchasing an additional 258,033 shares during the last quarter. World Investment Advisors grew its holdings in Suncor Energy by 55.4% during the fourth quarter. World Investment Advisors now owns 24,310 shares of the oil and gas producer’s stock valued at $867,000 after purchasing an additional 8,669 shares during the period. Finally, Huntington National Bank increased its position in Suncor Energy by 2.5% in the fourth quarter. Huntington National Bank now owns 21,717 shares of the oil and gas producer’s stock worth $775,000 after buying an additional 529 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

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.