Suncor Energy Inc. (NYSE:SU) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) have been given an average recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $71.6667.

A number of brokerages have recently issued reports on SU. ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. Weiss Ratings downgraded Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Wall Street Zen downgraded Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Finally, The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price on the stock. in a research note on Friday.

Suncor Energy Trading Down 3.3%

Shares of NYSE:SU opened at $61.15 on Wednesday. Suncor Energy has a 12-month low of $37.13 and a 12-month high of $70.29. The business’s fifty day simple moving average is $65.17 and its 200-day simple moving average is $56.08. The company has a market capitalization of $72.21 billion, a PE ratio of 16.05 and a beta of 0.27. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The company had revenue of $10.41 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the business posted $1.31 earnings per share. As a group, equities research analysts predict that Suncor Energy will post 7.07 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.9%. The ex-dividend date is Thursday, June 4th. Suncor Energy’s payout ratio is 45.67%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SU. AQR Capital Management LLC grew its stake in Suncor Energy by 14.2% during the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock worth $959,000 after buying an additional 3,115 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Suncor Energy by 172.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock worth $77,000 after acquiring an additional 1,254 shares during the period. EverSource Wealth Advisors LLC grew its stake in Suncor Energy by 21.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer’s stock valued at $100,000 after purchasing an additional 464 shares during the last quarter. AXA S.A. grew its stake in Suncor Energy by 17.2% during the 2nd quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer’s stock valued at $1,883,000 after purchasing an additional 7,395 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in Suncor Energy by 6.4% during the 2nd quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer’s stock valued at $2,514,000 after purchasing an additional 4,043 shares during the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Company Profile

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.