Suncor Energy (NYSE:SU) Upgraded at Cibc World Mkts

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by investment analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Several other analysts have also recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a research report on Tuesday, January 7th. Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Finally, Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Suncor Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Suncor Energy Stock Performance

NYSE:SU opened at $39.62 on Tuesday. The company has a market cap of $49.31 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 2.96 and a beta of 1.12. Suncor Energy has a 1 year low of $31.25 and a 1 year high of $41.94. The stock’s 50 day simple moving average is $37.70 and its two-hundred day simple moving average is $38.58. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.33%. As a group, equities analysts anticipate that Suncor Energy will post 3.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in Suncor Energy in the 4th quarter valued at about $5,140,000. Dynamic Technology Lab Private Ltd raised its stake in shares of Suncor Energy by 16.2% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 42,168 shares of the oil and gas producer’s stock valued at $1,505,000 after acquiring an additional 5,884 shares in the last quarter. ExodusPoint Capital Management LP raised its stake in shares of Suncor Energy by 1,037.7% during the fourth quarter. ExodusPoint Capital Management LP now owns 282,900 shares of the oil and gas producer’s stock valued at $10,094,000 after acquiring an additional 258,033 shares in the last quarter. World Investment Advisors boosted its holdings in shares of Suncor Energy by 55.4% in the fourth quarter. World Investment Advisors now owns 24,310 shares of the oil and gas producer’s stock valued at $867,000 after purchasing an additional 8,669 shares during the period. Finally, Huntington National Bank grew its stake in Suncor Energy by 2.5% in the fourth quarter. Huntington National Bank now owns 21,717 shares of the oil and gas producer’s stock worth $775,000 after purchasing an additional 529 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Company Profile

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.