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

Wall Street Zen downgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. Zacks Research raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Scotiabank raised 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 note on Thursday, July 16th. Finally, The Goldman Sachs Group lowered 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. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Suncor Energy presently has a consensus rating of “Buy” and an average target price of $71.67.

Suncor Energy Stock Down 1.9%

Shares of NYSE:SU opened at $65.99 on Friday. Suncor Energy has a fifty-two week low of $37.76 and a fifty-two week high of $70.29. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The firm’s 50-day simple moving average is $60.59 and its 200-day simple moving average is $60.30. The company has a market cap of $77.92 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.50 and a beta of 0.29.

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 analysts’ expectations of $9.22 billion. Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.During the same period in the prior year, the company earned $1.31 earnings per share. As a group, equities research analysts predict that Suncor Energy will post 7.11 earnings per share for the current year.

Institutional Investors Weigh In On Suncor Energy

A number of institutional investors and hedge funds have recently modified their holdings of SU. Formidable Asset Management LLC raised its position in shares of Suncor Energy by 1.1% in the 1st quarter. Formidable Asset Management LLC now owns 16,004 shares of the oil and gas producer’s stock valued at $1,058,000 after acquiring an additional 171 shares during the period. Mitchell & Pahl Private Wealth LLC grew its holdings in Suncor Energy by 0.8% during the first quarter. Mitchell & Pahl Private Wealth LLC now owns 24,278 shares of the oil and gas producer’s stock valued at $1,605,000 after purchasing an additional 190 shares during the period. IFP Advisors Inc grew its holdings in Suncor Energy by 22.6% during the fourth quarter. IFP Advisors Inc now owns 1,047 shares of the oil and gas producer’s stock valued at $46,000 after purchasing an additional 193 shares during the period. DGS Capital Management LLC increased its stake in 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 purchasing an additional 193 shares in the last quarter. Finally, Bryn Mawr Trust Advisors LLC increased its stake in Suncor Energy by 3.5% in the fourth quarter. Bryn Mawr Trust Advisors LLC now owns 5,742 shares of the oil and gas producer’s stock valued at $255,000 after purchasing an additional 196 shares in the last quarter. Institutional investors and hedge funds 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.