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

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

SU has been the topic of several other reports. ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Royal Bank Of Canada boosted their target price on Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, April 1st. JPMorgan Chase & Co. upgraded Suncor Energy from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $46.15 to $54.00 in a report on Tuesday, January 20th. Finally, The Goldman Sachs Group boosted their target price on Suncor Energy from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Suncor Energy currently has a consensus rating of “Buy” and a consensus target price of $72.00.

Suncor Energy Trading Down 0.0%

Shares of Suncor Energy stock opened at $64.00 on Friday. The stock has a market cap of $75.78 billion, a P/E ratio of 16.80 and a beta of 0.31. The stock’s 50 day simple moving average is $62.62 and its 200-day simple moving average is $52.17. Suncor Energy has a 1-year low of $34.48 and a 1-year high of $70.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.04). The company had revenue of $10.41 billion for the quarter, compared to analyst estimates of $9.22 billion. Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.During the same quarter in the prior year, the firm earned $1.31 earnings per share. Analysts predict that Suncor Energy will post 6.34 EPS for the current fiscal year.

Institutional Trading of Suncor Energy

Large investors have recently modified their holdings of the stock. Atlantic Edge Private Wealth Management LLC increased its holdings in Suncor Energy by 54.9% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 225 shares during the last quarter. Richardson Financial Services Inc. increased its holdings in Suncor Energy by 64.1% in the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock valued at $29,000 after buying an additional 275 shares during the last quarter. Headlands Technologies LLC purchased a new position in Suncor Energy in the second quarter valued at $31,000. 1 North Wealth Services LLC purchased a new position in Suncor Energy in the fourth quarter valued at $32,000. Finally, Smartleaf Asset Management LLC increased its holdings in Suncor Energy by 95.8% in the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 388 shares during the last quarter. Hedge funds and other 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.