Royal Bank Of Canada Reaffirms “Outperform” Rating for Suncor Energy (NYSE:SU)

Suncor Energy (NYSE:SU) (TSE:SU)‘s stock had its “outperform” rating reiterated by research analysts at Royal Bank Of Canada in a research note issued to investors on Friday,Benzinga reports. They presently have a $65.00 price target on the oil and gas producer’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 57.18% from the company’s previous close.

Suncor Energy Trading Up 0.6%

Shares of NYSE SU opened at $41.36 on Friday. Suncor Energy has a 1-year low of $30.79 and a 1-year high of $43.48. The company has a market cap of $50.00 billion, a PE ratio of 12.72, a P/E/G ratio of 3.35 and a beta of 0.78. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $40.59 and a two-hundred day moving average of $38.16.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. The company had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $11.56 billion. During the same period in the previous year, the firm posted $1.27 earnings per share. As a group, equities analysts expect that Suncor Energy will post 3.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Suncor Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Ascent Group LLC raised its stake in shares of Suncor Energy by 4.7% during the second quarter. Ascent Group LLC now owns 5,769 shares of the oil and gas producer’s stock worth $216,000 after buying an additional 260 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Suncor Energy by 27.6% during the second quarter. IFP Advisors Inc now owns 1,428 shares of the oil and gas producer’s stock worth $53,000 after buying an additional 309 shares during the last quarter. Transamerica Financial Advisors LLC raised its stake in shares of Suncor Energy by 18.4% during the second quarter. Transamerica Financial Advisors LLC now owns 2,081 shares of the oil and gas producer’s stock worth $78,000 after buying an additional 323 shares during the last quarter. Sagespring Wealth Partners LLC raised its stake in shares of Suncor Energy by 5.8% during the first quarter. Sagespring Wealth Partners LLC now owns 6,065 shares of the oil and gas producer’s stock worth $235,000 after buying an additional 332 shares during the last quarter. Finally, Winthrop Capital Management LLC raised its stake in shares of Suncor Energy by 2.6% during the first quarter. Winthrop Capital Management LLC now owns 13,654 shares of the oil and gas producer’s stock worth $529,000 after buying an additional 352 shares during the last quarter. 67.37% of the stock is owned by institutional investors.

Suncor Energy Company Profile

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.