Suncor Energy (NYSE:SU) Rating Lowered to Hold at StockNews.com

Suncor Energy (NYSE:SU) (TSE:SU) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

A number of other equities research analysts have also recently commented on the company. Morgan Stanley cut Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Finally, Cibc World Mkts upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Suncor Energy currently has an average rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Stock Down 1.2 %

SU traded down $0.48 during midday trading on Tuesday, reaching $38.66. The company’s stock had a trading volume of 4,530,858 shares, compared to its average volume of 4,496,944. Suncor Energy has a 1 year low of $33.26 and a 1 year high of $41.94. The stock’s 50-day moving average is $38.06 and its 200-day moving average is $38.66. The firm has a market capitalization of $48.11 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 2.94 and a beta of 1.12. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. As a group, research analysts expect that Suncor Energy will post 3.42 EPS for the current year.

Hedge Funds Weigh In On Suncor Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. increased its position in Suncor Energy by 1,324.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock valued at $123,774,000 after acquiring an additional 3,225,543 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Suncor Energy by 39.9% in the fourth quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock worth $346,298,000 after buying an additional 2,767,043 shares during the last quarter. Jupiter Asset Management Ltd. grew its position in Suncor Energy by 2,061.8% during the fourth quarter. Jupiter Asset Management Ltd. now owns 2,438,291 shares of the oil and gas producer’s stock valued at $86,990,000 after buying an additional 2,325,503 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Suncor Energy by 500.4% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,453,314 shares of the oil and gas producer’s stock valued at $87,459,000 after buying an additional 2,044,680 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in Suncor Energy by 97.4% in the fourth quarter. Fisher Asset Management LLC now owns 3,734,572 shares of the oil and gas producer’s stock worth $133,250,000 after acquiring an additional 1,842,791 shares during the period. 67.37% of the stock is 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.