Wall Street Zen Upgrades Suncor Energy (NYSE:SU) to “Strong-Buy”

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other analysts also recently commented on the company. Desjardins upgraded Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Zacks Research raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Weiss Ratings upgraded Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Finally, Morgan Stanley set a $106.00 target price on Suncor Energy in a research note on Wednesday, August 19th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Suncor Energy has a consensus rating of “Buy” and a consensus target price of $79.62.

Suncor Energy Stock Down 0.3%

NYSE SU opened at $77.80 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.65. The firm has a 50-day simple moving average of $68.57 and a 200 day simple moving average of $64.77. Suncor Energy has a twelve month low of $37.76 and a twelve month high of $79.65. The stock has a market cap of $90.99 billion, a PE ratio of 14.33, a PEG ratio of 0.51 and a beta of 0.36.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.19. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%. The business had revenue of $13.41 billion for the quarter, compared to the consensus estimate of $11.68 billion. During the same period last year, the business earned $0.71 earnings per share. On average, research analysts forecast that Suncor Energy will post 8.12 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership boosted its holdings in 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 valued at $1,724,954,000 after purchasing an additional 14,304,131 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Suncor Energy by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer’s stock worth $833,622,000 after buying an additional 411,243 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Suncor Energy in the 2nd quarter worth approximately $816,551,000. The Manufacturers Life Insurance Company bought a new position in shares of Suncor Energy during the 2nd quarter worth approximately $790,952,000. Finally, TD Waterhouse Canada Inc. lifted its position in shares of Suncor Energy by 2.1% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 11,657,514 shares of the oil and gas producer’s stock worth $625,497,000 after buying an additional 239,208 shares during the period. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Company Profile

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta, Canada. Its operations span the energy value chain, including the development, production, upgrading, refining, and marketing of crude oil and petroleum products.

The company is one of Canada’s major oil sands producers, with interests in mining and in situ oil sands projects. Suncor produces bitumen and synthetic crude oil and also has conventional oil and offshore production interests. Its upstream portfolio includes operated and non-operated assets in Canada.

Through its downstream operations, Suncor refines crude oil into gasoline, diesel, jet fuel, asphalt, and other petroleum products.