Suncor Energy (NYSE:SU) Upgraded by Cibc World Mkts to Strong-Buy Rating

Cibc World Mkts upgraded shares of Suncor Energy (NYSE:SU - Free Report) TSE: SU from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Tudor Pickering raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, February 10th. StockNews.com raised shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Tuesday, January 14th. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a research note on Monday, February 10th. Morgan Stanley lowered Suncor Energy from an "overweight" rating to an "equal weight" rating in a report on Monday, December 16th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $66.00 price target on shares of Suncor Energy in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Suncor Energy has a consensus rating of "Moderate Buy" and an average price target of $58.00.

Suncor Energy Stock Down 1.1 %

Shares of NYSE SU traded down $0.42 during midday trading on Tuesday, hitting $39.53. 3,955,278 shares of the stock traded hands, compared to its average volume of 4,417,325. Suncor Energy has a one year low of $31.46 and a one year high of $41.94. The business has a 50 day moving average price of $37.73 and a two-hundred day moving average price of $38.59. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. The company has a market cap of $49.20 billion, a PE ratio of 11.46, a P/E/G ratio of 2.96 and a beta of 1.12.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.33%. On average, equities analysts predict that Suncor Energy will post 3.25 EPS for the current year.

Suncor Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.399 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.60 annualized dividend and a yield of 4.04%. Suncor Energy's payout ratio is presently 46.67%.

Institutional Investors Weigh In On Suncor Energy

A number of large investors have recently added to or reduced their stakes in SU. Vanguard Group Inc. raised its position in Suncor Energy by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 53,019,357 shares of the oil and gas producer's stock worth $1,892,526,000 after purchasing an additional 323,714 shares during the period. Artisan Partners Limited Partnership grew its position in shares of Suncor Energy by 0.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 24,289,019 shares of the oil and gas producer's stock worth $865,885,000 after buying an additional 169,700 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Suncor Energy by 0.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 23,308,055 shares of the oil and gas producer's stock valued at $831,631,000 after buying an additional 209,447 shares during the period. Toronto Dominion Bank raised its holdings in shares of Suncor Energy by 1.8% during the third quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer's stock valued at $684,726,000 after acquiring an additional 333,440 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in Suncor Energy by 1.3% in the third quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer's stock valued at $516,728,000 after acquiring an additional 180,533 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company's stock.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.