Suncor Energy (NYSE:SU) Rating Lowered to “Buy” at Wall Street Zen

Suncor Energy (NYSE:SU) (TSE:SU) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

A number of other equities analysts have also recently issued reports on SU. Zacks Research upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Weiss Ratings upgraded shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday. Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Desjardins upgraded shares of Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Finally, The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target on the stock. in a report on Friday, June 5th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy presently has a consensus rating of “Buy” and an average target price of $71.67.

Suncor Energy Trading Down 0.1%

Suncor Energy stock opened at $67.22 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20. The business’s fifty day simple moving average is $60.62 and its two-hundred day simple moving average is $60.17. Suncor Energy has a 12 month low of $37.76 and a 12 month high of $70.29. The company has a market capitalization of $79.37 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 0.50 and a beta of 0.29.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.The company had revenue of $10.41 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the prior year, the company posted $1.31 earnings per share. As a group, equities analysts predict that Suncor Energy will post 7.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Suncor Energy

Hedge funds have recently bought and sold shares of the business. Gradient Investments LLC boosted its holdings in shares of Suncor Energy by 2.9% during the 2nd quarter. Gradient Investments LLC now owns 119,099 shares of the oil and gas producer’s stock valued at $6,393,000 after acquiring an additional 3,333 shares during the last quarter. Balefire LLC purchased a new position in shares of Suncor Energy during the second quarter valued at approximately $638,000. Baron Wealth Management LLC raised its holdings in shares of Suncor Energy by 3.0% during the second quarter. Baron Wealth Management LLC now owns 11,981 shares of the oil and gas producer’s stock valued at $643,000 after purchasing an additional 345 shares during the last quarter. Grove Bank & Trust bought a new position in Suncor Energy during the second quarter valued at approximately $439,000. Finally, Pacific Excel Wealth Advisors Inc. bought a new position in Suncor Energy during the second quarter valued at approximately $308,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

About Suncor Energy

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.