Suncor Energy (NYSE:SU) Stock Rating Upgraded by Wall Street Zen

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other research firms also recently issued reports on SU. Wells Fargo & Company initiated coverage on Suncor Energy in a report on Friday, October 17th. They issued an “equal weight” rating on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $65.00 price target on shares of Suncor Energy in a research note on Friday, October 3rd. Raymond James Financial raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a report on Monday. Finally, Zacks Research lowered shares of Suncor Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $65.00.

Suncor Energy Stock Performance

NYSE:SU opened at $42.74 on Friday. Suncor Energy has a fifty-two week low of $30.79 and a fifty-two week high of $45.60. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.85 and a current ratio of 1.35. The company has a 50 day moving average price of $42.34 and a 200 day moving average price of $40.70. The stock has a market capitalization of $51.36 billion, a P/E ratio of 14.01 and a beta of 0.46.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.22. Suncor Energy had a return on equity of 13.01% and a net margin of 10.61%.The company had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.82 billion. During the same quarter in the previous year, the company earned $1.48 earnings per share. Equities research analysts forecast that Suncor Energy will post 3.42 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SU. Shell Asset Management Co. increased its position in Suncor Energy by 65.8% in the 2nd quarter. Shell Asset Management Co. now owns 103,082 shares of the oil and gas producer’s stock valued at $3,854,000 after acquiring an additional 40,892 shares during the period. Focus Partners Wealth raised its stake in shares of Suncor Energy by 1.3% during the first quarter. Focus Partners Wealth now owns 796,967 shares of the oil and gas producer’s stock worth $30,859,000 after purchasing an additional 10,514 shares during the last quarter. Ontario Teachers Pension Plan Board raised its stake in shares of Suncor Energy by 15.6% during the second quarter. Ontario Teachers Pension Plan Board now owns 315,278 shares of the oil and gas producer’s stock worth $11,818,000 after purchasing an additional 42,506 shares during the last quarter. Canoe Financial LP acquired a new stake in shares of Suncor Energy during the second quarter worth $9,653,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Suncor Energy by 36.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 944,533 shares of the oil and gas producer’s stock worth $36,572,000 after purchasing an additional 251,298 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.