Suncor Energy (SU) Rating Increased to Outperform at AltaCorp Capital

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by investment analysts at AltaCorp Capital from a “sector perform” rating to an “outperform” rating in a report released on Wednesday.

Several other analysts have also commented on the stock. JPMorgan Chase & Co. lowered shares of Suncor Energy from an “overweight” rating to a “neutral” rating in a research report on Tuesday, September 11th. ValuEngine lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, September 11th. Zacks Investment Research raised shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Tuesday, July 24th. Mizuho initiated coverage on shares of Suncor Energy in a research report on Monday, July 23rd. They issued a “buy” rating on the stock. Finally, CIBC initiated coverage on shares of Suncor Energy in a research report on Friday, October 5th. They issued a “sector outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $49.43.

Suncor Energy stock traded up $0.29 during midday trading on Wednesday, hitting $35.79. 252,721 shares of the stock were exchanged, compared to its average volume of 3,915,779. Suncor Energy has a 52-week low of $31.33 and a 52-week high of $42.55. The stock has a market cap of $58.59 billion, a PE ratio of 23.75, a price-to-earnings-growth ratio of 1.41 and a beta of 0.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.56 and a current ratio of 0.90.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Wednesday, July 25th. The oil and gas producer reported $0.73 EPS for the quarter, topping the consensus estimate of $0.57 by $0.16. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $6.53 billion. Suncor Energy had a net margin of 12.25% and a return on equity of 9.61%. During the same quarter in the previous year, the firm posted $0.26 earnings per share. As a group, analysts predict that Suncor Energy will post 2.57 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. bought a new stake in shares of Suncor Energy in the second quarter valued at approximately $111,000. Mount Yale Investment Advisors LLC bought a new stake in shares of Suncor Energy in the first quarter valued at approximately $114,000. First Manhattan Co. raised its position in shares of Suncor Energy by 136.0% in the second quarter. First Manhattan Co. now owns 4,000 shares of the oil and gas producer’s stock valued at $162,000 after purchasing an additional 2,305 shares during the period. Hirtle Callaghan & Co LLC bought a new stake in shares of Suncor Energy in the second quarter valued at approximately $163,000. Finally, Greenwich Investment Management Inc. bought a new stake in shares of Suncor Energy in the second quarter valued at approximately $201,000. 65.51% of the stock is currently owned by institutional investors.

Suncor Energy Company Profile

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, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.

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Analyst Recommendations for Suncor Energy (NYSE:SU)

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