Traders Buy Shares of Suncor Energy Inc. (SU) on Weakness
Investors bought shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) on weakness during trading hours on Monday. $35.66 million flowed into the stock on the tick-up and $12.16 million flowed out of the stock on the tick-down, for a money net flow of $23.50 million into the stock. Of all stocks tracked, Suncor Energy had the 21st highest net in-flow for the day. Suncor Energy traded down ($0.12) for the day and closed at $36.30
Several brokerages have issued reports on SU. BidaskClub cut shares of Suncor Energy from a “hold” rating to a “sell” rating in a research note on Friday, August 18th. Canaccord Genuity reaffirmed a “buy” rating and set a $51.00 target price on shares of Suncor Energy in a research note on Monday, October 16th. AltaCorp Capital cut shares of Suncor Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, July 28th. Zacks Investment Research cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Citigroup Inc. reaffirmed a “buy” rating on shares of Suncor Energy in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $43.86.
The firm has a market cap of $60,269.93, a price-to-earnings ratio of 31.40, a PEG ratio of 3.34 and a beta of 0.85. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.62 and a current ratio of 0.91.
Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Wednesday, October 25th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.15. The firm had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.80 billion. Suncor Energy had a net margin of 11.63% and a return on equity of 5.68%. research analysts forecast that Suncor Energy Inc. will post 1.28 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the stock. First Personal Financial Services raised its holdings in Suncor Energy by 144.1% in the 2nd quarter. First Personal Financial Services now owns 3,845 shares of the oil and gas producer’s stock valued at $112,000 after buying an additional 2,270 shares during the period. Forward Management LLC purchased a new stake in Suncor Energy in the 3rd quarter valued at about $154,000. UBS Asset Management Americas Inc. raised its holdings in Suncor Energy by 13.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,658 shares of the oil and gas producer’s stock valued at $136,000 after buying an additional 562 shares during the period. Quadrant Capital Group LLC raised its holdings in Suncor Energy by 90.8% in the 2nd quarter. Quadrant Capital Group LLC now owns 4,725 shares of the oil and gas producer’s stock valued at $124,000 after buying an additional 2,248 shares during the period. Finally, Howland Capital Management LLC purchased a new stake in Suncor Energy in the 3rd quarter valued at about $201,000. Hedge funds and other institutional investors own 63.80% of the company’s stock.
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About Suncor Energy
Suncor Energy Inc is a Canada-based 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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