Wall Street Zen Downgrades Suncor Energy (NYSE:SU) to Hold

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

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

Suncor Energy Stock Up 1.4%

Shares of SU stock opened at $43.72 on Friday. The stock’s fifty day moving average price is $42.85 and its 200 day moving average price is $41.00. Suncor Energy has a 1-year low of $30.79 and a 1-year high of $45.60. The company has a market cap of $52.38 billion, a price-to-earnings ratio of 14.33 and a beta of 0.46. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.35 and a quick ratio of 0.85.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.22. The company had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $8.82 billion. Suncor Energy had a return on equity of 13.01% and a net margin of 10.61%.During the same period last year, the business posted $1.48 earnings per share. On average, research analysts expect 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 institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC grew its stake in shares of Suncor Energy by 12,290.9% during the 1st quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer’s stock worth $480,760,000 after purchasing an additional 12,318,559 shares during the period. Artisan Partners Limited Partnership boosted its holdings in Suncor Energy by 38.5% during the second quarter. Artisan Partners Limited Partnership now owns 33,722,975 shares of the oil and gas producer’s stock worth $1,264,043,000 after buying an additional 9,378,552 shares in the last quarter. Fisher Asset Management LLC grew its position in Suncor Energy by 85.5% during the third quarter. Fisher Asset Management LLC now owns 15,530,965 shares of the oil and gas producer’s stock valued at $649,350,000 after buying an additional 7,158,953 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Suncor Energy by 62.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 13,335,239 shares of the oil and gas producer’s stock valued at $557,682,000 after buying an additional 5,113,280 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in Suncor Energy by 29.5% in the second quarter. Canada Pension Plan Investment Board now owns 10,555,381 shares of the oil and gas producer’s stock valued at $395,649,000 after buying an additional 2,406,000 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.