Suncor Energy Inc. (SU) Shares Down 4.1%
Shares of Suncor Energy Inc. (NYSE:SU) fell 4.1% on Monday . The company traded as low as $26.19 and last traded at $26.26, with a volume of 1,754,009 shares. The stock had previously closed at $27.38.
A number of research firms recently weighed in on SU. Zacks Investment Research lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. Scotiabank reaffirmed an “outperform” rating and set a $37.00 target price on shares of Suncor Energy in a report on Saturday, June 25th. Citigroup Inc. lowered shares of Suncor Energy from a “buy” rating to a “neutral” rating and upped their target price for the stock from $38.00 to $40.00 in a report on Wednesday, April 20th. Goldman Sachs Group Inc. upped their target price on shares of Suncor Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, April 7th. Finally, Raymond James Financial Inc. reaffirmed an “outperform” rating and set a $41.00 target price (up previously from $40.00) on shares of Suncor Energy in a report on Monday, May 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Suncor Energy currently has a consensus rating of “Buy” and a consensus price target of $38.54.
The company’s 50-day moving average is $27.46 and its 200-day moving average is $26.11. The firm’s market cap is $41.69 billion.
Several hedge funds and institutional investors have made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Suncor Energy by 7.2% in the fourth quarter. Vanguard Group Inc. now owns 23,418,989 shares of the company’s stock worth $604,210,000 after buying an additional 1,574,030 shares during the period. Wells Fargo & Company MN raised its position in shares of Suncor Energy by 3.6% in the fourth quarter. Wells Fargo & Company MN now owns 8,913,358 shares of the company’s stock worth $229,965,000 after buying an additional 311,995 shares during the period. I.G. Investment Management LTD. raised its position in shares of Suncor Energy by 5.7% in the fourth quarter. I.G. Investment Management LTD. now owns 6,780,797 shares of the company’s stock worth $175,135,000 after buying an additional 363,655 shares during the period. Westfield Capital Management Co. LP acquired a new position in shares of Suncor Energy during the fourth quarter worth about $99,722,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Suncor Energy by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,500,280 shares of the company’s stock worth $90,307,000 after buying an additional 16,041 shares during the period.
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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