Suncor Energy (NYSE:SU) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Suncor Energy (NYSE:SU) (TSE:SU) had its price objective hoisted by research analysts at Royal Bank Of Canada from $69.00 to $75.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the oil and gas producer’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 39.35% from the stock’s previous close.

A number of other brokerages also recently commented on SU. Wall Street Zen lowered Suncor Energy from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Suncor Energy in a report on Monday, December 29th. Raymond James Financial raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. raised Suncor Energy from a “neutral” rating to an “overweight” rating and upped their price target for the company from $46.15 to $54.00 in a research note on Tuesday, January 20th. Finally, Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.00.

Suncor Energy Stock Up 1.3%

Shares of SU opened at $53.82 on Thursday. Suncor Energy has a one year low of $30.79 and a one year high of $55.30. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.85 and a current ratio of 1.39. The stock has a 50 day moving average price of $46.89 and a 200 day moving average price of $43.03. The stock has a market capitalization of $64.24 billion, a price-to-earnings ratio of 15.51 and a beta of 0.46.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The business had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.79 billion. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. During the same quarter in the prior year, the firm earned $1.25 earnings per share. Equities research analysts forecast that Suncor Energy will post 3.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Suncor Energy

Hedge funds have recently added to or reduced their stakes in the business. Atlantic Edge Private Wealth Management LLC increased its position in shares of Suncor Energy by 54.9% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 225 shares during the period. Richardson Financial Services Inc. increased its holdings in Suncor Energy by 64.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 275 shares during the period. Headlands Technologies LLC purchased a new stake in Suncor Energy during the 2nd quarter worth about $31,000. Hanson & Doremus Investment Management raised its position in Suncor Energy by 143.5% in the 3rd quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 465 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Suncor Energy by 95.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 388 shares during the period. 67.37% of the stock is currently owned by institutional investors and hedge funds.

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.