Suncor Energy (NYSE:SU) Stock Rating Lowered by Wall Street Zen

Suncor Energy (NYSE:SU) (TSE:SU) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday.

Other equities analysts have also recently issued reports about the stock. Royal Bank Of Canada restated an “outperform” rating and set a $65.00 price target on shares of Suncor Energy in a report on Friday, October 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Suncor Energy in a research report on Monday, December 22nd. Raymond James Financial raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 22nd. Finally, Wells Fargo & Company began coverage on shares of Suncor Energy in a research note on Friday, October 17th. They issued an “equal weight” rating on the stock. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $65.00.

Suncor Energy Trading Down 0.3%

Shares of SU stock opened at $43.09 on Friday. Suncor Energy has a twelve month low of $30.79 and a twelve month high of $45.60. The company has a current ratio of 1.35, a quick ratio of 0.85 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $51.78 billion, a price-to-earnings ratio of 14.13 and a beta of 0.46. The firm has a 50-day moving average price of $42.74 and a 200 day moving average price of $40.95.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 EPS for the quarter, topping the consensus estimate of $0.85 by $0.22. Suncor Energy had a return on equity of 13.01% and a net margin of 10.61%.The firm had revenue of $9.04 billion for the quarter, compared to analysts’ expectations of $8.82 billion. During the same quarter in the previous year, the company earned $1.48 earnings per share. Research analysts forecast that Suncor Energy will post 3.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Suncor Energy

A number of hedge funds have recently bought and sold shares of the business. Richardson Financial Services Inc. increased its position in shares of Suncor Energy by 64.1% in the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 275 shares during the period. Headlands Technologies LLC acquired a new stake in Suncor Energy during the 2nd quarter worth approximately $31,000. Maseco LLP acquired a new position in shares of Suncor Energy during the second quarter worth $32,000. Hanson & Doremus Investment Management grew its position in shares of Suncor Energy by 143.5% in the 3rd quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 465 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in Suncor Energy by 95.8% in the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 388 shares during the last quarter. 67.37% of the stock is owned by institutional investors.

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.