Raymond James Reiterates “Buy” Rating for Suncor Energy (SU)

Suncor Energy (NYSE:SU) (TSE:SU)‘s stock had its “buy” rating restated by stock analysts at Raymond James in a research note issued to investors on Friday.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. cut Suncor Energy from an “overweight” rating to a “neutral” rating in a research note on Tuesday, September 11th. CIBC started coverage on Suncor Energy in a research note on Friday, October 5th. They issued a “sector outperform” rating on the stock. Zacks Investment Research upgraded Suncor Energy from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Monday, October 8th. ValuEngine cut Suncor Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. Finally, Macquarie upgraded Suncor Energy from a “neutral” rating to an “outperform” rating in a research note on Tuesday, October 9th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $49.17.

NYSE:SU opened at $33.56 on Friday. The firm has a market capitalization of $54.28 billion, a P/E ratio of 22.23, a P/E/G ratio of 1.43 and a beta of 0.98. Suncor Energy has a 12-month low of $31.33 and a 12-month high of $42.55. The company has a quick ratio of 0.56, a current ratio of 0.90 and a debt-to-equity ratio of 0.30.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Wednesday, October 31st. The oil and gas producer reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.25. The firm had revenue of $8.31 billion during the quarter, compared to analyst estimates of $9.29 billion. Suncor Energy had a return on equity of 11.08% and a net margin of 12.66%. During the same period last year, the business posted $0.52 earnings per share. Equities research analysts predict that Suncor Energy will post 2.59 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Thornburg Investment Management Inc. acquired a new stake in shares of Suncor Energy during the third quarter worth about $82,982,000. Cambridge Investment Research Advisors Inc. increased its position in shares of Suncor Energy by 11.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 31,874 shares of the oil and gas producer’s stock worth $1,233,000 after purchasing an additional 3,299 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new stake in shares of Suncor Energy during the third quarter worth about $187,000. Comerica Bank increased its position in shares of Suncor Energy by 2.8% during the third quarter. Comerica Bank now owns 101,478 shares of the oil and gas producer’s stock worth $3,496,000 after purchasing an additional 2,775 shares in the last quarter. Finally, Synovus Financial Corp increased its position in shares of Suncor Energy by 11.6% during the third quarter. Synovus Financial Corp now owns 17,942 shares of the oil and gas producer’s stock worth $694,000 after purchasing an additional 1,862 shares in the last quarter. Institutional investors and hedge funds own 65.59% of the company’s stock.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.

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