Suncor Energy (NYSE:SU) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.

Other research analysts have also issued reports about the company. Scotiabank dropped their target price on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Wolfe Research assumed coverage on shares of Suncor Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price objective on the stock. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Finally, TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.40.

Suncor Energy Trading Down 1.1 %

Shares of NYSE SU opened at $39.16 on Thursday. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. Suncor Energy has a one year low of $29.45 and a one year high of $41.94. The business has a 50-day moving average price of $38.34 and a two-hundred day moving average price of $38.75. The firm has a market capitalization of $49.41 billion, a PE ratio of 9.09, a PEG ratio of 2.78 and a beta of 1.12.

Institutional Trading of Suncor Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SU. Eastern Bank bought a new stake in shares of Suncor Energy in the 3rd quarter worth about $25,000. Trust Co. of Vermont bought a new position in shares of Suncor Energy in the second quarter valued at approximately $26,000. Summit Securities Group LLC acquired a new position in shares of Suncor Energy in the 2nd quarter worth approximately $27,000. Richardson Financial Services Inc. grew its position in 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 during the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in Suncor Energy during the 2nd quarter valued at $29,000. Institutional investors own 67.37% of the company’s stock.

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.