Suncor Energy (NYSE:SU) Stock Rating Upgraded by StockNews.com

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other equities analysts have also issued reports on SU. Bank of America began coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 price objective on shares of Suncor Energy in a research report on Tuesday, January 7th. Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Finally, Morgan Stanley cut shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.00.

Suncor Energy Stock Performance

NYSE:SU opened at $37.46 on Friday. The firm’s 50-day moving average is $38.22 and its 200-day moving average is $38.15. Suncor Energy has a 52-week low of $33.81 and a 52-week high of $41.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The company has a market cap of $46.34 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 2.94 and a beta of 1.11.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. Equities research analysts anticipate that Suncor Energy will post 3.42 earnings per share for the current year.

Institutional Trading of Suncor Energy

Several institutional investors have recently made changes to their positions in SU. Assenagon Asset Management S.A. grew its stake in shares of Suncor Energy by 1,324.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock worth $123,774,000 after acquiring an additional 3,225,543 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Suncor Energy by 39.9% in the 4th quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock worth $346,298,000 after acquiring an additional 2,767,043 shares in the last quarter. Jupiter Asset Management Ltd. grew its stake in shares of Suncor Energy by 2,061.8% in the 4th quarter. Jupiter Asset Management Ltd. now owns 2,438,291 shares of the oil and gas producer’s stock worth $86,990,000 after acquiring an additional 2,325,503 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Suncor Energy by 500.4% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,453,314 shares of the oil and gas producer’s stock worth $87,459,000 after acquiring an additional 2,044,680 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Suncor Energy by 97.4% in the 4th quarter. Fisher Asset Management LLC now owns 3,734,572 shares of the oil and gas producer’s stock worth $133,250,000 after acquiring an additional 1,842,791 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.