Suncor Energy (NYSE:SU) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen cut shares of Suncor Energy (NYSE:SU) (TSE:SU) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning.

A number of other equities research analysts have also recently commented on SU. Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday. The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target on the stock. in a research report on Friday, June 5th. Desjardins raised Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Finally, Scotiabank raised Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $71.67.

Suncor Energy Stock Performance

SU opened at $67.22 on Friday. The firm has a fifty day moving average price of $60.62 and a 200 day moving average price of $60.08. Suncor Energy has a 1 year low of $37.76 and a 1 year high of $70.29. The stock has a market cap of $79.37 billion, a P/E ratio of 17.64, a P/E/G ratio of 0.50 and a beta of 0.30. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The firm had revenue of $10.41 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the business posted $1.31 EPS. Equities research analysts anticipate that Suncor Energy will post 7.11 earnings per share for the current year.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Thursday, June 4th. Suncor Energy’s dividend payout ratio is 45.67%.

Hedge Funds Weigh In On Suncor Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Versant Capital Management Inc boosted its position in Suncor Energy by 418.9% during the second quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 398 shares during the last quarter. Atlantic Edge Private Wealth Management LLC raised its holdings in Suncor Energy by 54.9% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 225 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Suncor Energy in the 2nd quarter valued at about $31,000. 1 North Wealth Services LLC purchased a new position in Suncor Energy in the 4th quarter worth approximately $32,000. Finally, Accent Capital Management LLC lifted its stake in Suncor Energy by 37.5% in the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 225 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.