Suncor Energy Inc. (NYSE:SU – Get Rating) (TSE:SU) has been assigned an average rating of “Buy” from the nineteen research firms that are currently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $43.54.
Several analysts have recently commented on SU shares. StockNews.com started coverage on Suncor Energy in a report on Thursday, March 31st. They issued a “buy” rating for the company. Bank of America assumed coverage on Suncor Energy in a report on Monday, January 10th. They set a “buy” rating for the company. TheStreet raised Suncor Energy from a “c” rating to a “b-” rating in a report on Tuesday, February 8th. Scotiabank lifted their price objective on Suncor Energy from C$45.00 to C$46.00 in a report on Monday, April 18th. Finally, Royal Bank of Canada cut Suncor Energy from an “outperform” rating to a “sector perform” rating in a report on Tuesday, February 15th.
A number of institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership boosted its stake in Suncor Energy by 8,710.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 8,880,833 shares of the oil and gas producer’s stock worth $184,046,000 after buying an additional 8,780,033 shares during the last quarter. Soroban Capital Partners LP purchased a new stake in Suncor Energy in the fourth quarter valued at approximately $110,774,000. Point72 Asset Management L.P. increased its position in Suncor Energy by 251.4% during the fourth quarter. Point72 Asset Management L.P. now owns 5,821,706 shares of the oil and gas producer’s stock worth $145,731,000 after purchasing an additional 4,165,006 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Suncor Energy by 1,802.9% during the first quarter. Assenagon Asset Management S.A. now owns 3,993,015 shares of the oil and gas producer’s stock worth $130,132,000 after purchasing an additional 3,783,176 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in shares of Suncor Energy by 25.3% in the 4th quarter. CIBC Asset Management Inc now owns 15,438,157 shares of the oil and gas producer’s stock valued at $386,014,000 after purchasing an additional 3,115,081 shares during the last quarter. Hedge funds and other institutional investors own 58.48% of the company’s stock.
About Suncor Energy (Get Rating)
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, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.
- Get a free copy of the StockNews.com research report on Suncor Energy (SU)
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