Suncor Energy (NYSE:SU) Lowered to Hold Rating by Wall Street Zen

Suncor Energy (NYSE:SU) (TSE:SU) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

SU has been the topic of a number of other reports. Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, December 22nd. Royal Bank Of Canada restated an “outperform” rating and issued a $65.00 target price on shares of Suncor Energy in a research note on Friday, October 3rd. Wells Fargo & Company assumed coverage on shares of Suncor Energy in a report on Friday, October 17th. They issued an “equal weight” rating on the stock. Raymond James Financial upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Suncor Energy in a report on Monday, December 22nd. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Suncor Energy currently has an average rating of “Buy” and a consensus target price of $65.00.

Suncor Energy Stock Performance

Shares of SU opened at $43.09 on Friday. The stock has a 50 day moving average price of $42.74 and a two-hundred day moving average price of $40.95. Suncor Energy has a 52 week low of $30.79 and a 52 week high of $45.60. The firm has a market capitalization of $51.78 billion, a P/E ratio of 14.13 and a beta of 0.46. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.85 and a current ratio of 1.35.

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

Hedge Funds Weigh In On Suncor Energy

Several large investors have recently made changes to their positions in SU. Ascent Group LLC boosted its stake in Suncor Energy by 4.7% in the 2nd quarter. Ascent Group LLC now owns 5,769 shares of the oil and gas producer’s stock worth $216,000 after purchasing an additional 260 shares in the last quarter. Archford Capital Strategies LLC grew its stake in shares of Suncor Energy by 1.2% in the third quarter. Archford Capital Strategies LLC now owns 23,617 shares of the oil and gas producer’s stock worth $987,000 after acquiring an additional 272 shares during the period. Richardson Financial Services Inc. raised its holdings in shares of Suncor Energy by 64.1% during the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 275 shares during the last quarter. D Orazio & Associates Inc. lifted its holdings in shares of Suncor Energy by 3.9% during the 3rd quarter. D Orazio & Associates Inc. now owns 7,299 shares of the oil and gas producer’s stock valued at $305,000 after buying an additional 275 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Suncor Energy by 10.5% in the third quarter. EverSource Wealth Advisors LLC now owns 2,947 shares of the oil and gas producer’s stock valued at $123,000 after acquiring an additional 280 shares during the period. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

About Suncor Energy

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.