Suncor Energy (NYSE:SU) Raised to Hold at Scotiabank

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU was upgraded by equities research analysts at Scotiabank to a "hold" rating in a report released on Wednesday, March 19th,Zacks.com reports.

Several other equities research analysts have also recently issued reports on SU. Royal Bank of Canada restated an "outperform" rating and issued a $66.00 target price on shares of Suncor Energy in a report on Tuesday, January 7th. Tudor Pickering upgraded Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 10th. StockNews.com raised Suncor Energy from a "hold" rating to a "buy" rating in a report on Saturday. Bank of America began coverage on Suncor Energy in a report on Wednesday, February 26th. They issued a "neutral" rating on the stock. Finally, Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a "hold" rating to a "buy" rating in a research note on Monday, February 10th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $58.00.

Remove Ads

Suncor Energy Stock Up 1.0 %

Shares of Suncor Energy stock traded up $0.40 on Wednesday, reaching $38.88. The company's stock had a trading volume of 3,120,311 shares, compared to its average volume of 4,202,688. Suncor Energy has a 52 week low of $33.81 and a 52 week high of $41.95. The firm's fifty day simple moving average is $38.15 and its two-hundred day simple moving average is $38.15. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $48.09 billion, a price-to-earnings ratio of 11.27, a P/E/G ratio of 2.94 and a beta of 1.11.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings data 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 return on equity of 15.37% and a net margin of 11.80%. Equities analysts anticipate that Suncor Energy will post 3.42 earnings per share for the current year.

Hedge Funds Weigh In On Suncor Energy

Several large investors have recently made changes to their positions in the business. HHM Wealth Advisors LLC raised its stake in Suncor Energy by 62.1% during the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer's stock valued at $30,000 after purchasing an additional 325 shares during the period. Crowley Wealth Management Inc. bought a new stake in shares of Suncor Energy during the fourth quarter valued at approximately $35,000. Lee Danner & Bass Inc. purchased a new position in shares of Suncor Energy in the fourth quarter worth $36,000. Golden State Wealth Management LLC bought a new position in shares of Suncor Energy during the fourth quarter worth $39,000. Finally, Covestor Ltd grew its stake in Suncor Energy by 30.5% during the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock valued at $39,000 after acquiring an additional 256 shares in the last quarter. 67.37% of the stock is currently owned by hedge funds and other 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.