Suncor Energy (NYSE:SU) Raised to Buy at Wall Street Zen

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

Other analysts have also issued research reports about the stock. Royal Bank Of Canada boosted their target price on shares of Suncor Energy from $75.00 to $89.00 and gave the company an "outperform" rating in a research note on Wednesday, April 1st. ATB Cormark Capital Markets raised shares of Suncor Energy from a "hold" rating to a "moderate buy" rating in a report on Wednesday, April 1st. Weiss Ratings raised shares of Suncor Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday. JPMorgan Chase & Co. raised shares of Suncor Energy from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $46.15 to $54.00 in a report on Tuesday, January 20th. Finally, The Goldman Sachs Group increased their price target on Suncor Energy from $66.00 to $73.00 and gave the stock a "buy" rating in a research report on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $72.00.

Suncor Energy Price Performance

Shares of SU opened at $64.00 on Friday. Suncor Energy has a 52 week low of $34.48 and a 52 week high of $70.29. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. The firm has a market cap of $75.78 billion, a price-to-earnings ratio of 16.80 and a beta of 0.31. The stock has a 50 day moving average of $62.62 and a 200-day moving average of $52.17.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The firm had revenue of $10.41 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the company posted $1.31 earnings per share. As a group, analysts forecast that Suncor Energy will post 6.72 EPS for the current year.

Hedge Funds Weigh In On Suncor Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Burling Wealth Partners LLC increased its stake in Suncor Energy by 22.8% during the 1st quarter. Burling Wealth Partners LLC now owns 74,712 shares of the oil and gas producer's stock valued at $4,939,000 after buying an additional 13,878 shares during the period. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Suncor Energy in the 1st quarter worth approximately $53,000. Dimensional Fund Advisors LP lifted its stake in shares of Suncor Energy by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer's stock worth $833,622,000 after acquiring an additional 411,243 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Suncor Energy by 8.4% in the first quarter. Parallel Advisors LLC now owns 9,343 shares of the oil and gas producer's stock valued at $618,000 after acquiring an additional 721 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Suncor Energy by 26.2% in the first quarter. Swiss National Bank now owns 4,043,492 shares of the oil and gas producer's stock valued at $267,051,000 after acquiring an additional 838,900 shares in the last quarter. Institutional investors own 67.37% of the company's stock.

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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