Suncor Energy (NYSE:SU) Releases Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Suncor Energy (NYSE:SU) (TSE:SU) issued its quarterly earnings data on Tuesday. The oil and gas producer reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.19, Zacks reports. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%.

Suncor Energy Trading Down 2.3%

Suncor Energy stock traded down $1.49 during trading on Tuesday, hitting $64.49. The company’s stock had a trading volume of 5,551,884 shares, compared to its average volume of 4,775,249. The stock’s fifty day moving average is $60.59 and its 200 day moving average is $60.30. Suncor Energy has a 1-year low of $37.76 and a 1-year high of $70.29. The stock has a market capitalization of $76.15 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 0.50 and a beta of 0.29. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42.

Institutional Trading of Suncor Energy

Hedge funds have recently added to or reduced their stakes in the business. Atlas Capital Advisors Inc. purchased a new stake in shares of Suncor Energy during the 4th quarter valued at $139,000. UMB Bank n.a. raised its position in shares of Suncor Energy by 31.1% in the 4th quarter. UMB Bank n.a. now owns 2,346 shares of the oil and gas producer’s stock worth $104,000 after buying an additional 557 shares during the period. Hollencrest Capital Management purchased a new position in shares of Suncor Energy in the 4th quarter worth $89,000. Brown Brothers Harriman & Co. boosted its holdings in Suncor Energy by 40.3% in the fourth quarter. Brown Brothers Harriman & Co. now owns 2,065 shares of the oil and gas producer’s stock valued at $92,000 after acquiring an additional 593 shares during the last quarter. Finally, Transamerica Financial Advisors LLC boosted its holdings in Suncor Energy by 18.4% in the second quarter. Transamerica Financial Advisors LLC now owns 2,081 shares of the oil and gas producer’s stock valued at $78,000 after acquiring an additional 323 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wall Street Zen cut Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday. Zacks Research raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a research report on Friday, June 5th. Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 29th. Finally, Desjardins upgraded Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Suncor Energy has a consensus rating of “Buy” and a consensus target price of $71.67.

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.