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

Suncor Energy (NYSE:SU) (TSE:SU) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

SU has been the topic of several other reports. The Goldman Sachs Group upped their price target on Suncor Energy from $66.00 to $73.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. ATB Cormark Capital Markets raised Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. Royal Bank Of Canada upped their price target on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, April 1st. Wall Street Zen raised Suncor Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Suncor Energy Stock Performance

SU stock opened at $65.31 on Monday. 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 $77.11 billion, a P/E ratio of 17.14 and a beta of 0.27. Suncor Energy has a 12-month low of $35.93 and a 12-month high of $70.29. The stock’s 50 day simple moving average is $65.26 and its 200 day simple moving average is $55.26.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.04). The firm had revenue of $10.41 billion for the quarter, compared to analyst estimates of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same period in the prior year, the company posted $1.31 earnings per share. As a group, equities research analysts predict that Suncor Energy will post 7.07 EPS for the current year.

Institutional Investors Weigh In On Suncor Energy

Several large investors have recently added to or reduced their stakes in SU. Swiss Life Asset Management Ltd lifted its holdings in Suncor Energy by 35.0% in the third quarter. Swiss Life Asset Management Ltd now owns 101,192 shares of the oil and gas producer’s stock worth $4,240,000 after purchasing an additional 26,252 shares during the period. Picton Mahoney Asset Management grew its position in Suncor Energy by 314.8% in the 3rd quarter. Picton Mahoney Asset Management now owns 627,313 shares of the oil and gas producer’s stock valued at $26,246,000 after buying an additional 476,077 shares in the last quarter. Intact Investment Management Inc. grew its position in Suncor Energy by 36.3% in the 4th quarter. Intact Investment Management Inc. now owns 1,695,160 shares of the oil and gas producer’s stock valued at $75,236,000 after buying an additional 451,110 shares in the last quarter. American Century Companies Inc. grew its position in Suncor Energy by 2.1% in the 3rd quarter. American Century Companies Inc. now owns 896,556 shares of the oil and gas producer’s stock valued at $37,519,000 after buying an additional 18,231 shares in the last quarter. Finally, SCP Investment LP bought a new position in Suncor Energy in the 3rd quarter valued at about $1,915,000. 67.37% of the stock is 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.