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

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

SU has been the subject of several other research reports. Weiss Ratings upgraded shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada lifted their target price on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 1st. Zacks Research upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Finally, The Goldman Sachs Group boosted their price objective on shares of Suncor Energy from $66.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Suncor Energy presently has a consensus rating of “Buy” and a consensus target price of $72.00.

Suncor Energy Price Performance

SU opened at $62.34 on Friday. The company has a market capitalization of $73.60 billion, a price-to-earnings ratio of 16.36 and a beta of 0.31. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average price of $65.25 and a 200-day moving average price of $55.04. Suncor Energy has a twelve month low of $35.29 and a twelve month high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.04). The business had revenue of $10.41 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.During the same quarter in the previous year, the business earned $1.31 EPS. Equities analysts expect that Suncor Energy will post 7.07 EPS for the current year.

Hedge Funds Weigh In On Suncor Energy

Several hedge funds have recently bought and sold shares of SU. Arrowstreet Capital Limited Partnership grew its stake in Suncor Energy by 121.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer’s stock valued at $1,724,954,000 after acquiring an additional 14,304,131 shares in the last quarter. Fisher Asset Management LLC grew its stake in Suncor Energy by 85.5% during the third quarter. Fisher Asset Management LLC now owns 15,530,965 shares of the oil and gas producer’s stock valued at $649,350,000 after acquiring an additional 7,158,953 shares in the last quarter. AQR Capital Management LLC lifted its position in Suncor Energy by 7,636.8% during the fourth quarter. AQR Capital Management LLC now owns 6,016,483 shares of the oil and gas producer’s stock valued at $267,042,000 after purchasing an additional 5,938,719 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Suncor Energy by 238.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,758,650 shares of the oil and gas producer’s stock valued at $512,987,000 after purchasing an additional 5,469,431 shares during the last quarter. Finally, FIL Ltd lifted its position in Suncor Energy by 14.0% during the fourth quarter. FIL Ltd now owns 21,050,387 shares of the oil and gas producer’s stock valued at $934,312,000 after purchasing an additional 2,592,516 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

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.