Suncor Energy (NYSE:SU) Stock Rating Lowered by StockNews.com

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Thursday.

Other analysts also recently issued reports about the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $66.00 target price on shares of Suncor Energy in a report on Friday, December 20th. Desjardins upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a research report on Thursday, November 14th. Finally, Morgan Stanley lowered Suncor Energy from an "overweight" rating to an "equal weight" rating in a research note on Monday, December 16th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $58.00.

Suncor Energy Stock Performance

Shares of NYSE:SU traded down $0.02 during trading on Thursday, reaching $35.16. 2,702,350 shares of the company's stock traded hands, compared to its average volume of 4,304,656. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. The company has a 50 day moving average of $38.45 and a 200-day moving average of $38.52. The stock has a market capitalization of $44.24 billion, a P/E ratio of 7.66, a price-to-earnings-growth ratio of 2.43 and a beta of 1.11. Suncor Energy has a 12 month low of $31.03 and a 12 month high of $41.94.

Hedge Funds Weigh In On Suncor Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in SU. The Manufacturers Life Insurance Company raised its stake in shares of Suncor Energy by 5.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer's stock valued at $956,850,000 after buying an additional 1,209,073 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Suncor Energy by 1.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 23,048,048 shares of the oil and gas producer's stock worth $878,131,000 after purchasing an additional 366,432 shares in the last quarter. Toronto Dominion Bank boosted its holdings in 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 purchasing an additional 333,440 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Suncor Energy by 1.3% in the 3rd 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 purchasing an additional 180,533 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Suncor Energy by 23.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer's stock worth $357,827,000 after buying an additional 1,829,936 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Company Profile

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.