The Goldman Sachs Group Raises Suncor Energy (NYSE:SU) Price Target to $48.00

Suncor Energy (NYSE:SU) (TSE:SU) had its target price boosted by investment analysts at The Goldman Sachs Group from $46.00 to $48.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 5.69% from the stock’s previous close.

SU has been the topic of several other reports. Wall Street Zen downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Raymond James Financial upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. Wells Fargo & Company initiated coverage on shares of Suncor Energy in a research note on Friday, October 17th. They issued an “equal weight” rating for the company. Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 22nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $65.00 price objective on shares of Suncor Energy in a research report on Friday, October 3rd. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $56.50.

Suncor Energy Trading Up 2.4%

Shares of Suncor Energy stock traded up $1.06 on Friday, hitting $45.42. 1,447,706 shares of the company’s stock traded hands, compared to its average volume of 3,891,701. The firm’s 50-day moving average price is $43.17 and its two-hundred day moving average price is $41.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.35 and a quick ratio of 0.85. The stock has a market capitalization of $54.42 billion, a PE ratio of 14.88 and a beta of 0.46. Suncor Energy has a one year low of $30.79 and a one year high of $45.60.

Suncor Energy (NYSE:SU) (TSE:SU) last posted 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. The company had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.82 billion. Suncor Energy had a net margin of 10.61% and a return on equity of 13.01%. During the same period last year, the business posted $1.48 earnings per share. On average, research analysts expect that Suncor Energy will post 3.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Richardson Financial Services Inc. lifted its stake in Suncor Energy by 64.1% during the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 275 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Suncor Energy during the second quarter worth about $31,000. Maseco LLP bought a new stake in Suncor Energy during the 2nd quarter worth approximately $32,000. Hanson & Doremus Investment Management raised its stake in shares of Suncor Energy by 143.5% during the third quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 465 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of 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 purchasing an additional 388 shares during the period. Institutional investors 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.