Suncor Energy Inc. (NYSE:SU) Receives Consensus Rating of “Buy” from Brokerages

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.

SU opened at $34.81 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.06 and a quick ratio of 0.66. The business has a 50 day simple moving average of $33.04 and a 200-day simple moving average of $28.83. The stock has a market capitalization of $49.54 billion, a P/E ratio of 15.68, a P/E/G ratio of 0.56 and a beta of 1.35. Suncor Energy has a 12 month low of $17.10 and a 12 month high of $37.93.

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.

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