Suncor Energy (NYSE:SU) Stock Rating Upgraded by Desjardins

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by equities research analysts at Desjardins to a “moderate buy” rating in a report released on Thursday,Zacks.com reports.

Several other analysts have also recently commented on SU. Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Weiss Ratings cut Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Royal Bank Of Canada raised their price target on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, April 1st. Wall Street Zen upgraded shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 12th. Finally, ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy currently has an average rating of “Buy” and a consensus target price of $71.67.

Suncor Energy Trading Up 2.9%

Suncor Energy stock opened at $62.45 on Thursday. Suncor Energy has a 52-week low of $37.76 and a 52-week high of $70.29. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $73.73 billion, a price-to-earnings ratio of 16.39 and a beta of 0.30. The firm has a 50-day moving average price of $61.11 and a two-hundred day moving average price of $58.68.

Suncor Energy (NYSE:SU) (TSE:SU) last announced 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). The firm had revenue of $10.41 billion during the quarter, compared to analyst estimates of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same quarter in the previous year, the business posted $1.31 EPS. Sell-side analysts expect that Suncor Energy will post 7.07 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Suncor Energy by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer’s stock worth $2,473,173,000 after buying an additional 1,166,405 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Suncor Energy by 121.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer’s stock worth $1,724,954,000 after purchasing an additional 14,304,131 shares during the period. FIL Ltd raised its holdings in shares of Suncor Energy by 14.0% in the 4th quarter. FIL Ltd now owns 21,050,387 shares of the oil and gas producer’s stock worth $934,312,000 after buying an additional 2,592,516 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Suncor Energy by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 19,371,704 shares of the oil and gas producer’s stock worth $860,933,000 after acquiring an additional 516,783 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Suncor Energy by 8.3% during the fourth quarter. Fisher Asset Management LLC now owns 16,820,924 shares of the oil and gas producer’s stock valued at $746,176,000 after acquiring an additional 1,289,959 shares during the period. Institutional investors own 67.37% of the company’s stock.

About Suncor Energy

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.