Suncor Energy’s (SU) “Outperform” Rating Reiterated 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 research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $66.00 price objective on the oil and gas producer’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 73.50% from the stock’s current price.

Several other equities research analysts have also commented on SU. StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, December 26th. Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Finally, Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Stock Performance

NYSE:SU traded up $1.08 during midday trading on Tuesday, reaching $38.04. The stock had a trading volume of 1,217,059 shares, compared to its average volume of 2,346,157. Suncor Energy has a 12-month low of $31.03 and a 12-month high of $41.94. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The firm has a fifty day simple moving average of $37.96 and a two-hundred day simple moving average of $38.45. The stock has a market cap of $47.63 billion, a P/E ratio of 8.29, a P/E/G ratio of 2.43 and a beta of 1.12.

Institutional Trading of Suncor Energy

A number of hedge funds have recently added to or reduced their stakes in the business. Eastern Bank purchased a new position in shares of Suncor Energy during the 3rd quarter worth about $25,000. Richardson Financial Services Inc. raised its stake in Suncor Energy by 82.8% during the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 328 shares during the period. Waldron Private Wealth LLC acquired a new position in shares of Suncor Energy in the 3rd quarter valued at $49,000. Transamerica Financial Advisors Inc. grew its stake in shares of Suncor Energy by 2,311.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,977 shares of the oil and gas producer’s stock valued at $73,000 after buying an additional 1,895 shares during the period. Finally, Mattson Financial Services LLC purchased a new position in shares of Suncor Energy in the 2nd quarter worth $82,000. 67.37% of the stock is 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.