Suncor Energy Inc. (SU) Rating Reiterated by RBC Capital Markets
Suncor Energy Inc. (NYSE:SU)‘s stock had its “outperform” rating reiterated by equities researchers at RBC Capital Markets in a report released on Sunday. They presently have a $42.00 price objective on the stock. RBC Capital Markets’ price objective would indicate a potential upside of 51.19% from the stock’s current price.
Several other brokerages have also commented on SU. Bank of America Corp. assumed coverage on shares of Suncor Energy in a research note on Friday, August 19th. They set a “buy” rating and a $33.00 price target on the stock. Vetr lowered shares of Suncor Energy from a “strong-buy” rating to a “buy” rating and set a $31.93 price target on the stock. in a research note on Tuesday, June 7th. Zacks Investment Research upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Wednesday, July 13th. Simmons cut their price target on shares of Suncor Energy from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 5th. Finally, Raymond James Financial Inc. reiterated an “outperform” rating and set a $42.00 price target (down from $43.00) on shares of Suncor Energy in a research note on Thursday, June 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $38.44.
Shares of Suncor Energy (NYSE:SU) opened at 27.78 on Friday. The stock’s market capitalization is $46.24 billion. Suncor Energy has a 1-year low of $18.71 and a 1-year high of $30.70. The stock’s 50 day moving average is $27.28 and its 200 day moving average is $27.37.
Suncor Energy (NYSE:SU) last announced its quarterly earnings results on Wednesday, July 27th. The company reported ($0.36) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by $0.15. Suncor Energy had a negative return on equity of 1.59% and a negative net margin of 11.29%. During the same quarter last year, the business earned $0.63 EPS. On average, equities analysts forecast that Suncor Energy will post ($0.34) EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 26th. Investors of record on Tuesday, September 6th were issued a dividend of $0.2194 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend was Thursday, September 1st. Suncor Energy’s dividend payout ratio is currently -60.54%.
A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Japan Co. Ltd bought a new stake in Suncor Energy during the second quarter worth approximately $108,000. Glenmede Trust Co. NA increased its stake in Suncor Energy by 9.8% in the second quarter. Glenmede Trust Co. NA now owns 4,898 shares of the company’s stock worth $135,000 after buying an additional 437 shares in the last quarter. Ropes Wealth Advisors LLC increased its stake in shares of Suncor Energy by 15.6% in the first quarter. Ropes Wealth Advisors LLC now owns 6,088 shares of the company’s stock valued at $169,000 after buying an additional 820 shares during the period. IFP Advisors Inc increased its stake in shares of Suncor Energy by 29.2% in the first quarter. IFP Advisors Inc now owns 6,470 shares of the company’s stock valued at $180,000 after buying an additional 1,462 shares during the period. Finally, Checchi Capital Advisers LLC increased its stake in shares of Suncor Energy by 5.8% in the second quarter. Checchi Capital Advisers LLC now owns 6,801 shares of the company’s stock valued at $189,000 after buying an additional 372 shares during the period. 64.08% of the stock is currently owned by hedge funds and other institutional investors.
Suncor Energy Company Profile
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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