Suncor Energy (NYSE:SU) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Suncor Energy (NYSE:SU) (TSE:SU) from a buy rating to a hold rating in a research note released on Thursday.

Other analysts also recently issued research reports about the stock. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Wolfe Research began coverage on Suncor Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $68.00 target price for the company. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Finally, Scotiabank cut their price target on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.83.

Suncor Energy Stock Performance

SU stock opened at $39.10 on Thursday. Suncor Energy has a twelve month low of $29.45 and a twelve month high of $41.94. The firm has a market cap of $50.11 billion, a price-to-earnings ratio of 8.71, a PEG ratio of 2.69 and a beta of 1.12. The business’s fifty day simple moving average is $39.03 and its two-hundred day simple moving average is $38.74. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 EPS for the quarter, topping the consensus estimate of $0.76 by $0.51. The company had revenue of $12.90 billion for the quarter, compared to the consensus estimate of $9.30 billion. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 EPS. Analysts predict that Suncor Energy will post 3.71 earnings per share for the current year.

Suncor Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were issued a $0.395 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.04%. Suncor Energy’s dividend payout ratio is presently 35.86%.

Institutional Investors Weigh In On Suncor Energy

Hedge funds have recently made changes to their positions in the stock. Trust Co. of Vermont bought a new position in Suncor Energy in the second quarter worth about $26,000. Summit Securities Group LLC purchased a new position in shares of Suncor Energy in the 2nd quarter worth approximately $27,000. Richardson Financial Services Inc. raised its stake in shares of Suncor Energy by 82.8% during the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 328 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in Suncor Energy during the second quarter valued at approximately $29,000. Finally, ORG Partners LLC acquired a new stake in Suncor Energy in the second quarter valued at approximately $43,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.