Suncor Energy (NYSE:SU) Upgraded by Wall Street Zen to Strong-Buy Rating

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

A number of other research firms have also recently issued reports on SU. ATB Cormark Capital Markets raised Suncor Energy from a "hold" rating to a "moderate buy" rating in a research note on Wednesday, April 1st. Royal Bank Of Canada increased their price objective on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an "outperform" rating in a research 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 Friday, June 26th. Zacks Research upgraded Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, July 6th. Finally, Scotiabank upgraded Suncor Energy to a "strong-buy" rating in a report on Friday, June 26th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Suncor Energy presently has an average rating of "Buy" and an average price target of $71.67.

Suncor Energy Trading Up 1.2%

Shares of NYSE SU traded up $0.73 during midday trading on Friday, reaching $59.22. 3,398,603 shares of the stock were exchanged, compared to its average volume of 4,746,634. Suncor Energy has a 12 month low of $37.76 and a 12 month high of $70.29. The company has a market capitalization of $69.92 billion, a price-to-earnings ratio of 15.54 and a beta of 0.30. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. The business has a 50-day simple moving average of $61.60 and a two-hundred day simple moving average of $58.04.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.04). Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.The business had revenue of $10.41 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the business posted $1.31 EPS. As a group, equities research analysts expect that Suncor Energy will post 7.07 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SU. Gradient Investments LLC raised its stake in shares of Suncor Energy by 2.9% during the 2nd quarter. Gradient Investments LLC now owns 119,099 shares of the oil and gas producer's stock worth $6,393,000 after purchasing an additional 3,333 shares in the last quarter. Balefire LLC acquired a new position in Suncor Energy during the second quarter worth $638,000. Baron Wealth Management LLC raised its position in Suncor Energy by 3.0% during the second quarter. Baron Wealth Management LLC now owns 11,981 shares of the oil and gas producer's stock worth $643,000 after acquiring an additional 345 shares in the last quarter. Grove Bank & Trust acquired a new stake in Suncor Energy in the second quarter valued at $439,000. Finally, Pacific Excel Wealth Advisors Inc. bought a new position in shares of Suncor Energy in the 2nd quarter valued at about $308,000. 67.37% of the stock is currently owned by institutional investors.

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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