Cibc World Mkts Upgrades Suncor Energy (NYSE:SU) to “Strong-Buy”

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

SU has been the topic of a number of other reports. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $66.00 price target on shares of Suncor Energy in a research note on Tuesday, January 7th. Finally, Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Suncor Energy presently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Stock Down 2.5 %

NYSE SU opened at $39.62 on Tuesday. The company has a market cap of $49.31 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 2.96 and a beta of 1.12. Suncor Energy has a 1-year low of $31.25 and a 1-year high of $41.94. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average of $37.70 and a 200-day moving average of $38.58.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.07. Suncor Energy had a return on equity of 15.33% and a net margin of 11.80%. On average, equities research analysts expect that Suncor Energy will post 3.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Suncor Energy

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Eastern Bank acquired a new stake in Suncor Energy during the 3rd quarter valued at approximately $25,000. HHM Wealth Advisors LLC increased its position in shares of Suncor Energy by 62.1% during the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock worth $30,000 after buying an additional 325 shares during the period. Crowley Wealth Management Inc. acquired a new stake in shares of Suncor Energy during the fourth quarter worth $35,000. Lee Danner & Bass Inc. bought a new position in Suncor Energy during the fourth quarter worth $36,000. Finally, Golden State Wealth Management LLC acquired a new position in Suncor Energy in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

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.