Weiss Ratings Reaffirms "Hold (C+)" Rating for Suncor Energy (NYSE:SU)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C+)" rating for Suncor Energy's stock, indicating a cautious outlook from analysts.
• The Royal Bank of Canada has given Suncor Energy an "outperform" rating with a price target of $65.00, reflecting a generally positive view among some analysts.
• Suncor Energy's stock is currently trading at $40.84, down 1.3%, with a market capitalization of $49.38 billion and a consensus rating of "Moderate Buy".

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU's stock had its "hold (c+)" rating reissued by analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Royal Bank Of Canada reissued an "outperform" rating and issued a $65.00 price objective on shares of Suncor Energy in a research note on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Suncor Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.00.

Suncor Energy Stock Down 1.3%

NYSE SU traded down $0.53 during mid-day trading on Wednesday, reaching $40.84. 7,883,519 shares of the company's stock traded hands, compared to its average volume of 3,697,425. The company has a market cap of $49.38 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 3.35 and a beta of 0.78. The company has a fifty day simple moving average of $40.67 and a 200-day simple moving average of $38.23. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. Suncor Energy has a 1-year low of $30.79 and a 1-year high of $43.48.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. The company had revenue of $8.81 billion during the quarter, compared to analyst estimates of $11.56 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.During the same quarter last year, the firm earned $1.27 EPS. As a group, equities research analysts expect that Suncor Energy will post 3.42 EPS for the current year.

Hedge Funds Weigh In On Suncor Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in SU. Hanson & Doremus Investment Management grew its stake in shares of Suncor Energy by 143.5% in the 1st quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock valued at $31,000 after purchasing an additional 465 shares during the period. Headlands Technologies LLC bought a new stake in shares of Suncor Energy in the 2nd quarter valued at approximately $31,000. Salem Investment Counselors Inc. grew its stake in shares of Suncor Energy by 97.6% in the 1st quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 405 shares during the period. Maseco LLP bought a new stake in Suncor Energy during the 2nd quarter worth approximately $32,000. Finally, N.E.W. Advisory Services LLC bought a new stake in Suncor Energy during the 1st quarter worth approximately $36,000. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.

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