Gerdes Energy Research Upgrades Suncor Energy (TSE:SU) to Buy

Suncor Energy (TSE:SU) (NYSE:SU) was upgraded by stock analysts at Gerdes Energy Research from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm currently has a C$96.00 price target on the stock, up from their prior price target of C$93.00. Gerdes Energy Research’s price objective points to a potential upside of 24.63% from the stock’s current price.

A number of other research firms have also recently weighed in on SU. Raymond James Financial lifted their price objective on shares of Suncor Energy from C$76.00 to C$93.00 in a report on Monday, March 30th. BMO Capital Markets upped their target price on shares of Suncor Energy from C$85.00 to C$100.00 in a report on Wednesday, April 1st. TD boosted their target price on shares of Suncor Energy from C$91.00 to C$113.00 and gave the company a “buy” rating in a report on Thursday, April 16th. ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Finally, JPMorgan Chase & Co. lifted their target price on Suncor Energy from C$105.00 to C$106.00 in a report on Tuesday, May 12th. Nine research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$94.25.

Suncor Energy Stock Up 0.8%

TSE SU traded up C$0.60 during trading on Monday, reaching C$77.03. 998,612 shares of the company’s stock traded hands, compared to its average volume of 6,841,481. The company has a debt-to-equity ratio of 32.36, a current ratio of 1.42 and a quick ratio of 0.83. The company’s 50 day simple moving average is C$87.27 and its two-hundred day simple moving average is C$78.84. Suncor Energy has a 12-month low of C$50.97 and a 12-month high of C$96.53. The firm has a market cap of C$90.95 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 0.15 and a beta of 0.14.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its earnings results on Tuesday, May 5th. The company reported C$1.93 earnings per share for the quarter. The firm had revenue of C$14.48 billion for the quarter. Suncor Energy had a return on equity of 14.01% and a net margin of 12.17%. As a group, sell-side analysts forecast that Suncor Energy will post 4.4208333 EPS for the current fiscal year.

About Suncor Energy

Suncor Energy Inc is an integrated energy company. The company’s operations include oil sands development, production and upgrading, offshore oil and gas, petroleum refining in Canada and the U.S. and the company’s PetroCanada retail and wholesale distribution networks. The company is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.