Zacks Research Downgrades Suncor Energy (NYSE:SU) to Hold

Suncor Energy (NYSE:SU) (TSE:SU) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other research firms have also commented on SU. Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 29th. Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a report on Friday, June 5th. Desjardins upgraded Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. Finally, Wall Street Zen cut Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.67.

Suncor Energy Stock Down 2.4%

Shares of NYSE SU opened at $62.91 on Tuesday. Suncor Energy has a 1 year low of $37.76 and a 1 year high of $70.29. The firm’s 50-day moving average is $60.55 and its 200-day moving average is $60.50. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $74.28 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 0.48 and a beta of 0.30.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Suncor Energy had a return on equity of 20.35% and a net margin of 15.62%.The business had revenue of $10.41 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the firm earned $1.31 earnings per share. Equities analysts expect that Suncor Energy will post 7.11 EPS for the current year.

Institutional Investors Weigh In On Suncor Energy

Several large investors have recently modified their holdings of the business. Versant Capital Management Inc increased its stake in Suncor Energy by 418.9% during the 2nd quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 398 shares in the last quarter. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Suncor Energy by 54.9% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 225 shares during the period. 1 North Wealth Services LLC bought a new stake in Suncor Energy in the 4th quarter valued at $32,000. Cassaday & Co Wealth Management LLC acquired a new position in Suncor Energy in the 1st quarter worth $53,000. Finally, Headlands Technologies LLC bought a new position in Suncor Energy during the 2nd quarter worth about $31,000. 67.37% of the stock is currently owned by 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.