Suncor Energy (NYSE:SU) Rating Lowered to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Suncor Energy from “strong buy” to “buy,” while the broader analyst consensus remains “Buy” with a $71.67 price target.
• Suncor shares opened at $67.22, near their 52-week high of $70.29, with a market capitalization of approximately $79.37 billion.
• The company’s latest quarterly results included $1.41 in EPS, slightly below estimates, while revenue of $10.41 billion exceeded the $9.22 billion consensus forecast; institutional investors own 67.37% of the stock.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

SU has been the topic of a number of other research reports. The Goldman Sachs Group downgraded shares of Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 price objective on the stock. in a research report on Friday, June 5th. Zacks Research raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. Scotiabank upgraded shares of Suncor Energy to a "strong-buy" rating in a research note on Friday, June 26th. Desjardins raised Suncor Energy to a "moderate buy" rating in a report on Thursday, July 16th. Finally, Weiss Ratings raised Suncor Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday. Two 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 company. Based on data from MarketBeat.com, Suncor Energy has an average rating of "Buy" and a consensus price target of $71.67.

Suncor Energy Price Performance

NYSE SU opened at $67.22 on Friday. Suncor Energy has a one year low of $37.76 and a one year high of $70.29. The stock has a 50-day moving average of $60.62 and a 200 day moving average of $60.08. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42. The company has a market capitalization of $79.37 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 0.50 and a beta of 0.30.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its 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). The company had revenue of $10.41 billion for the quarter, compared to the consensus estimate of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same quarter in the prior year, the company posted $1.31 EPS. On average, sell-side analysts forecast that Suncor Energy will post 7.11 EPS for the current year.

Institutional Trading of Suncor Energy

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Suncor Energy by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer's stock worth $2,473,173,000 after acquiring an additional 1,166,405 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Suncor Energy by 121.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer's stock valued at $1,724,954,000 after acquiring an additional 14,304,131 shares during the period. FIL Ltd increased its stake in shares of Suncor Energy by 14.0% in the 4th quarter. FIL Ltd now owns 21,050,387 shares of the oil and gas producer's stock worth $934,312,000 after purchasing an additional 2,592,516 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Suncor Energy by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 19,371,704 shares of the oil and gas producer's stock worth $860,933,000 after purchasing an additional 516,783 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Suncor Energy by 8.3% in the 4th quarter. Fisher Asset Management LLC now owns 16,820,924 shares of the oil and gas producer's stock worth $746,176,000 after purchasing an additional 1,289,959 shares during the period. 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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