Suncor Energy Inc. (NYSE:SU) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) have been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $71.6667.

SU has been the subject of several recent research reports. Royal Bank Of Canada boosted their target price on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, June 26th. Finally, The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research note on Friday, June 5th.

Hedge Funds Weigh In On Suncor Energy

Large investors have recently bought and sold shares of the stock. Versant Capital Management Inc boosted its holdings in Suncor Energy by 418.9% during the 2nd quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 398 shares during the last quarter. Eastern Bank raised its holdings in shares of Suncor Energy by 51.7% in the second quarter. Eastern Bank now owns 1,024 shares of the oil and gas producer’s stock valued at $55,000 after purchasing an additional 349 shares during the last quarter. Sapient Capital LLC purchased a new stake in shares of Suncor Energy in the first quarter valued at about $269,000. Rathbones Group PLC lifted its position in shares of Suncor Energy by 15.3% during the first quarter. Rathbones Group PLC now owns 12,046 shares of the oil and gas producer’s stock valued at $794,000 after purchasing an additional 1,596 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Suncor Energy by 8.4% during the first quarter. Parallel Advisors LLC now owns 9,343 shares of the oil and gas producer’s stock valued at $618,000 after purchasing an additional 721 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Stock Performance

NYSE SU opened at $55.02 on Friday. The company has a market cap of $64.96 billion, a P/E ratio of 14.44 and a beta of 0.30. The company has a fifty day simple moving average of $62.34 and a 200 day simple moving average of $57.52. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20. Suncor Energy has a 12-month low of $37.55 and a 12-month high of $70.29.

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

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 4th were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, June 4th. This represents a $2.40 annualized dividend and a yield of 4.4%. Suncor Energy’s dividend payout ratio is 45.41%.

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.