Suncor Energy (NYSE:SU) Price Target Raised to $62.00

Key Points

• The Goldman Sachs Group raised its price target on Suncor from $55 to $62 and kept a "buy" rating, while RBC lifted its target to $75 with an "outperform" — MarketBeat's consensus target is $63.67 (a "Moderate Buy").
• Suncor stock traded up 2.8% to $59.92, sitting near its 52‑week high of $60, with a market cap of about $71.3 billion and a P/E of 17.3.
• Suncor beat Q4 EPS estimates at $0.79 versus $0.77, reported revenue roughly in line with expectations, and posted a net margin of 11.99% and return on equity of 12.51%.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU had its price objective lifted by equities research analysts at The Goldman Sachs Group from $55.00 to $62.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the oil and gas producer's stock. The Goldman Sachs Group's price objective points to a potential upside of 3.46% from the company's current price.

Several other research analysts have also weighed in on SU. Royal Bank Of Canada upped their target price on shares of Suncor Energy from $69.00 to $75.00 and gave the stock an "outperform" rating in a research report on Thursday, February 5th. Zacks Research cut shares of Suncor Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 20th. Wall Street Zen downgraded shares of Suncor Energy from a "buy" rating to a "hold" rating in a research report on Sunday, December 28th. Weiss Ratings restated a "buy (b)" rating on shares of Suncor Energy in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. upgraded shares of Suncor Energy from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $46.15 to $54.00 in a research note on Tuesday, January 20th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Suncor Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.67.

Suncor Energy Stock Up 2.8%

Suncor Energy stock traded up $1.65 during trading on Thursday, reaching $59.92. The stock had a trading volume of 2,836,566 shares, compared to its average volume of 5,497,194. The company has a quick ratio of 0.89, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. Suncor Energy has a 52-week low of $30.79 and a 52-week high of $60.00. The stock has a market cap of $71.31 billion, a PE ratio of 17.27 and a beta of 0.43. The business has a 50 day moving average price of $52.69 and a 200 day moving average price of $45.81.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings data on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. The business had revenue of $8.77 billion during the quarter, compared to analysts' expectations of $8.79 billion. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. During the same period in the previous year, the company earned $1.25 EPS. On average, analysts predict that Suncor Energy will post 3.42 EPS for the current year.

Institutional Investors Weigh In On Suncor Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its position in shares of Suncor Energy by 22.6% during the 4th quarter. IFP Advisors Inc now owns 1,047 shares of the oil and gas producer's stock valued at $46,000 after acquiring an additional 193 shares during the last quarter. DGS Capital Management LLC increased its position in Suncor Energy by 3.2% during the 4th quarter. DGS Capital Management LLC now owns 6,149 shares of the oil and gas producer's stock worth $273,000 after buying an additional 193 shares during the period. Bryn Mawr Trust Advisors LLC boosted its holdings in Suncor Energy by 3.5% in the 4th 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 during the period. Chesapeake Capital Corp IL boosted its holdings in Suncor Energy by 0.9% in the 4th quarter. Chesapeake Capital Corp IL now owns 22,741 shares of the oil and gas producer's stock valued at $1,009,000 after purchasing an additional 203 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in shares of Suncor Energy by 0.7% during the fourth quarter. Quadrant Capital Group LLC now owns 28,748 shares of the oil and gas producer's stock worth $1,275,000 after purchasing an additional 212 shares during the period. Hedge funds and other institutional investors 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.

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