Suncor Energy (NYSE:SU) Issues Earnings Results, Beats Estimates By $0.19 EPS

Key Points

• Suncor Energy reported quarterly EPS of $2.33, beating analysts’ consensus estimate of $2.14 by $0.19. The company posted a 13.96% return on equity and a 12.29% net margin.
• Suncor shares fell $1.49 to $64.49 during Tuesday trading, despite remaining near the upper end of their 52-week range. The stock has a market capitalization of approximately $76.15 billion and a P/E ratio of 16.93.
• Analyst sentiment remains positive, with an average rating of “Buy” and a consensus price target of $71.67; institutional investors own 67.37% of the company’s shares.

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

Suncor Energy Stock Performance

Suncor Energy stock traded down $1.49 during trading hours on Tuesday, hitting $64.49. The stock had a trading volume of 5,551,764 shares, compared to its average volume of 4,774,849. The company has a 50-day moving average of $60.59 and a two-hundred day moving average of $60.30. 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 company has a market cap of $76.15 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 0.50 and a beta of 0.29. Suncor Energy has a fifty-two week low of $37.76 and a fifty-two week high of $70.29.

Analysts Set New Price Targets

A number of research analysts have issued reports on SU shares. Zacks Research upgraded Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. The Goldman Sachs Group lowered Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 price target on the stock. in a report on Friday, June 5th. Weiss Ratings raised shares of Suncor Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 29th. Desjardins upgraded shares of Suncor Energy to a "moderate buy" rating in a research report on Thursday, July 16th. Finally, Scotiabank raised shares of Suncor Energy to a "strong-buy" rating in a research note on Friday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Suncor Energy has an average rating of "Buy" and a consensus target price of $71.67.

Institutional Trading of Suncor Energy

A number of institutional investors and hedge funds have recently modified their holdings of SU. Headlands Technologies LLC bought a new stake in Suncor Energy during the second quarter worth $31,000. Summit Securities Group LLC purchased a new stake in Suncor Energy in the 4th quarter valued at $44,000. Caitong International Asset Management Co. Ltd lifted its stake in Suncor Energy by 10,133.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,228 shares of the oil and gas producer's stock valued at $54,000 after acquiring an additional 1,216 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Suncor Energy during the 4th quarter valued at $66,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Suncor Energy by 109.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,664 shares of the oil and gas producer's stock worth $74,000 after acquiring an additional 871 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors.

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.

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