Suncor Energy (NYSE:SU) Upgraded at Zacks Research

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Suncor Energy in a report on Monday. Royal Bank Of Canada reiterated an “outperform” rating and set a $65.00 price target on shares of Suncor Energy in a research note on Friday, October 3rd. Wall Street Zen raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company started coverage on Suncor Energy in a report on Friday, October 17th. They set an “equal weight” rating for the company. Finally, Raymond James Financial upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Suncor Energy has a consensus rating of “Buy” and a consensus price target of $65.00.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $43.15 on Monday. The firm has a market capitalization of $51.85 billion, a P/E ratio of 14.15 and a beta of 0.46. The company has a quick ratio of 0.85, a current ratio of 1.35 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average price of $42.47 and a 200 day moving average price of $40.85. Suncor Energy has a 52 week low of $30.79 and a 52 week high of $45.60.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.22. Suncor Energy had a net margin of 10.61% and a return on equity of 13.01%. The company had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.82 billion. During the same quarter in the previous year, the firm earned $1.48 EPS. Sell-side analysts expect that Suncor Energy will post 3.42 EPS for the current year.

Institutional Trading of Suncor Energy

Several large investors have recently made changes to their positions in SU. Richardson Financial Services Inc. lifted its holdings in Suncor Energy by 64.1% in the 3rd 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 in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Suncor Energy in the second quarter valued at about $31,000. Maseco LLP purchased a new position in shares of Suncor Energy in the second quarter worth about $32,000. Hanson & Doremus Investment Management lifted its stake in shares of Suncor Energy by 143.5% in the third quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 465 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Suncor Energy by 95.8% during the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 388 shares during the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

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.