Suncor Energy (NYSE:SU) Downgraded by Zacks Research to Hold

Zacks Research lowered shares of Suncor Energy (NYSE:SU) (TSE:SU) from a strong-buy rating to a hold rating in a research report report published on Tuesday,Zacks.com reports.

Several other analysts have also recently commented on the stock. Weiss Ratings upgraded shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 29th. Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Desjardins upgraded Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Wall Street Zen cut Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Finally, The Goldman Sachs Group lowered shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $71.67.

Suncor Energy Stock Performance

Shares of SU opened at $62.91 on Tuesday. 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 firm has a market cap of $74.28 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 0.48 and a beta of 0.30. Suncor Energy has a 12-month low of $37.76 and a 12-month high of $70.29. The company’s 50 day simple moving average is $60.55 and its 200-day simple moving average is $60.50.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.04). Suncor Energy had a net margin of 15.62% and a return on equity of 20.35%. The company had revenue of $10.41 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the prior year, the company earned $1.31 earnings per share. As a group, equities analysts predict that Suncor Energy will post 7.11 EPS for the current year.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.8%. Suncor Energy’s payout ratio is presently 45.67%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Formidable Asset Management LLC lifted its position in shares of Suncor Energy by 1.1% in the first quarter. Formidable Asset Management LLC now owns 16,004 shares of the oil and gas producer’s stock worth $1,058,000 after purchasing an additional 171 shares in the last quarter. Mitchell & Pahl Private Wealth LLC lifted its position in Suncor Energy by 0.8% during the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 24,278 shares of the oil and gas producer’s stock worth $1,605,000 after buying an additional 190 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Suncor Energy by 22.6% during the 4th quarter. IFP Advisors Inc now owns 1,047 shares of the oil and gas producer’s stock worth $46,000 after buying an additional 193 shares during the last quarter. DGS Capital Management LLC increased its position in shares of Suncor Energy by 3.2% in the fourth quarter. DGS Capital Management LLC now owns 6,149 shares of the oil and gas producer’s stock valued at $273,000 after acquiring an additional 193 shares during the last quarter. Finally, Bryn Mawr Trust Advisors LLC raised its holdings in Suncor Energy by 3.5% during the fourth quarter. Bryn Mawr Trust Advisors LLC now owns 5,742 shares of the oil and gas producer’s stock worth $255,000 after acquiring an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Company Profile

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.