Suncor Energy (NYSE:SU) Rating Lowered to Hold at Zacks Research

Suncor Energy (NYSE:SU) (TSE:SU) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research firms have also issued reports on SU. Royal Bank Of Canada upped their price objective on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Wall Street Zen raised shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, The Goldman Sachs Group increased their price objective on shares of Suncor Energy from $66.00 to $73.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $72.00.

Suncor Energy Stock Performance

Shares of SU opened at $65.31 on Monday. The firm has a 50-day moving average of $65.26 and a 200-day moving average of $55.26. Suncor Energy has a one year low of $35.93 and a one year high of $70.29. The company has a market cap of $77.11 billion, a PE ratio of 17.14 and a beta of 0.27. 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The firm had revenue of $10.41 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the previous year, the company posted $1.31 earnings per share. As a group, equities analysts forecast that Suncor Energy will post 7.07 earnings per share for the current year.

Institutional Trading of Suncor Energy

Several institutional investors have recently added to or reduced their stakes in the company. Ruggaard & Associates LLC increased its position in Suncor Energy by 4.5% during the 1st quarter. Ruggaard & Associates LLC now owns 13,095 shares of the oil and gas producer’s stock worth $866,000 after buying an additional 569 shares during the period. Segall Bryant & Hamill LLC grew its stake in shares of Suncor Energy by 127.9% in the first quarter. Segall Bryant & Hamill LLC now owns 445,249 shares of the oil and gas producer’s stock valued at $29,435,000 after acquiring an additional 249,904 shares in the last quarter. Vestor Capital LLC bought a new position in Suncor Energy during the first quarter worth about $59,000. Royal Fund Management LLC increased its position in Suncor Energy by 30.0% during the first quarter. Royal Fund Management LLC now owns 77,079 shares of the oil and gas producer’s stock worth $5,096,000 after acquiring an additional 17,792 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in Suncor Energy in the 1st quarter worth about $367,000. 67.37% of the stock is currently owned by 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.