Suncor Energy (NYSE:SU) Downgraded to “Buy” Rating by Wall Street Zen

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

Other equities analysts have also recently issued reports about the stock. ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. Weiss Ratings cut shares of Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday. Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research report on Friday. Finally, Royal Bank Of Canada lifted their price objective on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.67.

Suncor Energy Price Performance

NYSE:SU opened at $62.28 on Friday. Suncor Energy has a 1-year low of $36.60 and a 1-year high of $70.29. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20. The firm has a fifty day simple moving average of $65.31 and a 200 day simple moving average of $55.76. The stock has a market capitalization of $73.54 billion, a PE ratio of 16.35 and a beta of 0.27.

Suncor Energy (NYSE:SU) (TSE:SU) last released 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). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The firm had revenue of $10.41 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the business posted $1.31 earnings per share. On average, research analysts expect that Suncor Energy will post 7.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Suncor Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Suncor Energy by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer’s stock worth $2,473,173,000 after buying an additional 1,166,405 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Suncor Energy by 0.4% during the third quarter. Artisan Partners Limited Partnership now owns 33,868,775 shares of the oil and gas producer’s stock worth $1,417,029,000 after buying an additional 145,800 shares in the last quarter. Dodge & Cox lifted its holdings in shares of Suncor Energy by 0.3% during the third quarter. Dodge & Cox now owns 27,471,954 shares of the oil and gas producer’s stock worth $1,148,602,000 after buying an additional 70,300 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of 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 worth $1,724,954,000 after buying an additional 14,304,131 shares in the last quarter. Finally, FIL Ltd lifted its holdings in shares of 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 worth $934,312,000 after buying an additional 2,592,516 shares in the last quarter. Institutional investors and hedge funds 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.