Suncor Energy (NYSE:SU) Stock Rating Upgraded by Raymond James Financial

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by analysts at Raymond James Financial from a “market perform” rating to an “outperform” rating in a research report issued on Thursday,Finviz reports.

A number of other analysts have also recently commented on the company. Wells Fargo & Company initiated coverage on Suncor Energy in a research report on Friday, October 17th. They set an “equal weight” rating for the company. Zacks Research lowered Suncor Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Suncor Energy in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $65.00 price objective on shares of Suncor Energy in a research note on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Suncor Energy Stock Performance

Shares of SU opened at $41.26 on Thursday. The stock has a 50-day moving average of $40.78 and a two-hundred day moving average of $38.84. Suncor Energy has a one year low of $30.79 and a one year high of $43.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26. The stock has a market cap of $49.77 billion, a P/E ratio of 12.70, a P/E/G ratio of 3.52 and a beta of 0.75.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.22. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.The company had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $8.82 billion. During the same quarter in the previous year, the firm posted $1.48 EPS. As a group, research analysts predict that Suncor Energy will post 3.42 EPS for the current year.

Hedge Funds Weigh In On Suncor Energy

Several institutional investors and hedge funds have recently modified their holdings of SU. Acadian Asset Management LLC increased its stake in shares of Suncor Energy by 12,290.9% in the 1st quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer’s stock valued at $480,760,000 after purchasing an additional 12,318,559 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in shares of Suncor Energy by 38.5% in the 2nd quarter. Artisan Partners Limited Partnership now owns 33,722,975 shares of the oil and gas producer’s stock valued at $1,264,043,000 after purchasing an additional 9,378,552 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Suncor Energy by 83.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,426,008 shares of the oil and gas producer’s stock worth $481,135,000 after buying an additional 5,658,880 shares in the last quarter. Nuveen LLC purchased a new stake in Suncor Energy during the 1st quarter worth approximately $126,048,000. Finally, Fisher Asset Management LLC increased its stake in Suncor Energy by 49.6% during the 2nd quarter. Fisher Asset Management LLC now owns 8,372,012 shares of the oil and gas producer’s stock worth $313,532,000 after buying an additional 2,777,150 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.