Suncor Energy (NYSE:SU) Upgraded at Desjardins

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by research analysts at Desjardins to a “moderate buy” rating in a report released on Thursday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Wall Street Zen upgraded shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 12th. Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. The Goldman Sachs Group lowered shares of 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. ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Finally, Weiss Ratings cut Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Suncor Energy currently has an average rating of “Buy” and an average price target of $71.67.

Suncor Energy Price Performance

SU opened at $62.45 on Thursday. The stock has a 50-day moving average price of $61.11 and a 200-day moving average price of $58.68. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. The firm has a market cap of $73.73 billion, a PE ratio of 16.39 and a beta of 0.30. Suncor Energy has a 1 year low of $37.76 and a 1 year high of $70.29.

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 return on equity of 13.96% and a net margin of 12.29%.The firm had revenue of $10.41 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the previous year, the firm earned $1.31 EPS. Sell-side analysts predict that Suncor Energy will post 7.07 earnings per share for the current fiscal year.

Institutional Trading of Suncor Energy

A number of hedge funds have recently bought and sold shares of SU. AQR Capital Management LLC lifted its stake in shares of Suncor Energy by 14.2% in the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock worth $959,000 after purchasing an additional 3,115 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of 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 last quarter. EverSource Wealth Advisors LLC grew its position in shares of 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 acquiring an additional 464 shares during the period. AXA S.A. grew its stake in shares of 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 acquiring an additional 7,395 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in Suncor Energy by 6.4% in the 2nd quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer’s stock worth $2,514,000 after acquiring an additional 4,043 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

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.