Suncor Energy (NYSE:SU) Given “Outperform” Rating at Royal Bank of Canada

Suncor Energy (NYSE:SU) (TSE:SU)‘s stock had its “outperform” rating reiterated by analysts at Royal Bank of Canada in a report issued on Friday,Benzinga reports. They currently have a $66.00 target price on the oil and gas producer’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 89.71% from the company’s current price.

SU has been the topic of several other research reports. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday. Finally, StockNews.com cut Suncor Energy from a “buy” rating to a “hold” rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Price Performance

Shares of SU traded up $0.18 during mid-day trading on Friday, reaching $34.79. The stock had a trading volume of 277,400 shares, compared to its average volume of 4,310,496. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. Suncor Energy has a 12 month low of $31.03 and a 12 month high of $41.94. The business has a fifty day moving average of $38.79 and a 200 day moving average of $38.60. The firm has a market cap of $43.77 billion, a price-to-earnings ratio of 7.58, a PEG ratio of 2.43 and a beta of 1.11.

Hedge Funds Weigh In On Suncor Energy

Large investors have recently added to or reduced their stakes in the stock. Eastern Bank purchased a new position in shares of Suncor Energy during the 3rd quarter worth approximately $25,000. Summit Securities Group LLC acquired a new stake in shares of Suncor Energy in the second quarter valued at $27,000. Richardson Financial Services Inc. raised its holdings in shares of Suncor Energy by 82.8% in the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 328 shares during the period. Ridgewood Investments LLC acquired a new position in Suncor Energy during the 2nd quarter worth about $29,000. Finally, Waldron Private Wealth LLC purchased a new position in Suncor Energy during the 3rd quarter valued at about $49,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

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.