Suncor Energy (TSE:SU) Rating Lowered to Neutral at Gerdes Energy Research

Suncor Energy (TSE:SU) (NYSE:SU) was downgraded by Gerdes Energy Research from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. They currently have a C$97.00 target price on the stock, up from their previous target price of C$96.00. Gerdes Energy Research’s price target suggests a potential upside of 3.77% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Canadian Imperial Bank of Commerce boosted their price objective on shares of Suncor Energy from C$88.00 to C$92.00 in a report on Thursday, April 2nd. TD increased their price objective on Suncor Energy from C$113.00 to C$116.00 and gave the company a “buy” rating in a research note on Wednesday. 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. TD Securities lifted their price target on Suncor Energy from C$81.00 to C$91.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. Finally, Desjardins set a C$107.00 price objective on Suncor Energy and gave the stock a “buy” rating in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$95.88.

Suncor Energy Stock Performance

TSE:SU opened at C$93.48 on Wednesday. The firm has a market cap of C$110.38 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 0.15 and a beta of 0.17. The firm’s fifty day moving average price is C$85.30 and its 200 day moving average price is C$82.00. The company has a debt-to-equity ratio of 32.36, a current ratio of 1.42 and a quick ratio of 0.83. Suncor Energy has a 1-year low of C$52.95 and a 1-year high of C$96.53.

Suncor Energy (TSE:SU) (NYSE:SU) last issued its quarterly earnings results on Tuesday, May 5th. The company reported C$1.93 earnings per share (EPS) for the quarter. Suncor Energy had a net margin of 12.17% and a return on equity of 14.01%. The business had revenue of C$14.48 billion for the quarter. On average, sell-side analysts expect that Suncor Energy will post 4.4208333 EPS for the current year.

Suncor Energy Company Profile

Suncor Energy Inc is an integrated energy company. The company’s operations include oil sands development, production and upgrading, offshore oil and gas, petroleum refining in Canada and the U.S. and the company’s PetroCanada retail and wholesale distribution networks. The company is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.