Suncor Energy (NYSE:SU) Cut to "Strong Sell" at Zacks Research

Key Points

• Suncor Energy has been downgraded from a "hold" rating to a "strong sell" rating by Zacks Research, indicating a significant change in analyst sentiment.
• Despite the downgrade, other analysts maintain a "Moderate Buy" consensus rating on the stock, with an average price target of $65.00.
• The company's latest earnings report showed a higher than expected EPS of $0.51, but revenue fell short of estimates, highlighting mixed financial performance.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Royal Bank Of Canada reissued an "outperform" rating and issued a $65.00 target price on shares of Suncor Energy in a report on Friday, October 3rd. Weiss Ratings reissued a "hold (c+)" rating on shares of Suncor Energy in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $65.00.

Suncor Energy Price Performance

SU stock opened at $38.57 on Wednesday. Suncor Energy has a one year low of $30.79 and a one year high of $43.48. The company's fifty day moving average price is $40.71 and its 200-day moving average price is $38.27. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26. The company has a market capitalization of $46.63 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 3.09 and a beta of 0.78.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. The firm had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $11.56 billion. During the same quarter in the previous year, the firm earned $1.27 earnings per share. On average, equities analysts anticipate that Suncor Energy will post 3.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Suncor Energy

Several large investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its position in Suncor Energy by 2,380.2% during the first quarter. GAMMA Investing LLC now owns 6,002 shares of the oil and gas producer's stock valued at $232,000 after acquiring an additional 5,760 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Suncor Energy by 2.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 255,758 shares of the oil and gas producer's stock valued at $9,903,000 after acquiring an additional 5,888 shares during the last quarter. Sowell Financial Services LLC bought a new position in Suncor Energy during the first quarter valued at $230,000. Sagespring Wealth Partners LLC increased its position in Suncor Energy by 5.8% during the first quarter. Sagespring Wealth Partners LLC now owns 6,065 shares of the oil and gas producer's stock valued at $235,000 after acquiring an additional 332 shares during the last quarter. Finally, CWA Asset Management Group LLC increased its position in Suncor Energy by 15.4% during the first quarter. CWA Asset Management Group LLC now owns 24,008 shares of the oil and gas producer's stock valued at $930,000 after acquiring an additional 3,195 shares during 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.

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