Suncor Energy Inc. (SU) Stock Rating Lowered by Scotiabank
Suncor Energy Inc. (NYSE:SU) (TSE:SU) was downgraded by equities researchers at Scotiabank from an “outperform” rating to a “sector perform” rating in a report issued on Friday, The Fly reports.
Several other brokerages also recently issued reports on SU. Zacks Investment Research upgraded Suncor Energy from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Monday, February 13th. Goldman Sachs Group Inc upgraded Suncor Energy from a “buy” rating to a “conviction-buy” rating and upped their price objective for the company from $25.00 to $34.00 in a research report on Wednesday, April 5th. They noted that the move was a valuation call. Simmons reduced their price objective on Suncor Energy from $43.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 19th. TheStreet upgraded Suncor Energy from a “d+” rating to a “c” rating in a research report on Thursday, February 9th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $52.00 target price on shares of Suncor Energy in a research report on Saturday, March 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $42.46.
Suncor Energy (NYSE SU) opened at 30.24 on Friday. Suncor Energy has a 12-month low of $25.60 and a 12-month high of $33.79. The stock’s 50 day moving average price is $31.26 and its 200 day moving average price is $31.56. The stock has a market cap of $50.48 billion, a price-to-earnings ratio of 44.15 and a beta of 0.96.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 26th. Stockholders of record on Monday, June 5th will be paid a $0.2371 dividend. The ex-dividend date is Thursday, June 1st. This represents a $0.95 dividend on an annualized basis and a dividend yield of 3.14%. Suncor Energy’s dividend payout ratio (DPR) is currently 477.78%.
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Several large investors have recently bought and sold shares of SU. Eagle Global Advisors LLC raised its stake in Suncor Energy by 58.8% in the third quarter. Eagle Global Advisors LLC now owns 168,619 shares of the oil and gas producer’s stock worth $4,684,000 after buying an additional 62,436 shares during the period. Capital Innovations LLC acquired a new stake in shares of Suncor Energy during the third quarter worth $287,000. Jane Street Group LLC raised its stake in shares of Suncor Energy by 714.2% in the third quarter. Jane Street Group LLC now owns 245,052 shares of the oil and gas producer’s stock worth $6,808,000 after buying an additional 214,953 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in shares of Suncor Energy during the third quarter worth $585,000. Finally, Commerzbank Aktiengesellschaft FI raised its stake in shares of Suncor Energy by 15.9% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 245,088 shares of the oil and gas producer’s stock worth $8,012,000 after buying an additional 33,553 shares during the period. Institutional investors and hedge funds own 64.84% of the company’s stock.
Suncor Energy Company Profile
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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