Suncor Energy (SU) Stock Rating Lowered by Macquarie

Suncor Energy (NYSE:SU) (TSE:SU) was downgraded by investment analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research report issued on Tuesday, The Fly reports.

A number of other research firms have also issued reports on SU. GARP Research upgraded shares of Suncor Energy from a “neutral” rating to a “buy” rating in a research note on Monday, October 22nd. Zacks Investment Research reiterated a “hold” rating on shares of Suncor Energy in a research note on Friday, November 16th. AltaCorp Capital upgraded shares of Suncor Energy from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, October 17th. Canaccord Genuity set a $65.00 price objective on shares of Suncor Energy and gave the company a “buy” rating in a research note on Tuesday, November 20th. Finally, ValuEngine lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Suncor Energy currently has a consensus rating of “Buy” and a consensus target price of $51.71.

NYSE SU traded up $0.10 during mid-day trading on Tuesday, hitting $32.59. The company’s stock had a trading volume of 684,019 shares, compared to its average volume of 4,535,452. Suncor Energy has a 52-week low of $31.33 and a 52-week high of $42.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.59 and a current ratio of 0.93. The firm has a market capitalization of $52.23 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 1.48 and a beta of 1.00.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Wednesday, October 31st. The oil and gas producer reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.25. Suncor Energy had a net margin of 12.66% and a return on equity of 11.11%. The firm had revenue of $8.31 billion for the quarter, compared to analyst estimates of $9.29 billion. During the same quarter last year, the firm posted $0.52 earnings per share. Sell-side analysts forecast that Suncor Energy will post 2.47 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Capital International Investors boosted its holdings in Suncor Energy by 680.0% in the third quarter. Capital International Investors now owns 35,098,879 shares of the oil and gas producer’s stock worth $1,358,140,000 after purchasing an additional 30,599,078 shares during the period. Bank of New York Mellon Corp boosted its holdings in Suncor Energy by 19,812.9% in the third quarter. Bank of New York Mellon Corp now owns 8,430,116 shares of the oil and gas producer’s stock worth $326,160,000 after purchasing an additional 8,387,781 shares during the period. Sanders Capital LLC boosted its holdings in shares of Suncor Energy by 57.3% during the third quarter. Sanders Capital LLC now owns 18,556,830 shares of the oil and gas producer’s stock valued at $798,710,000 after acquiring an additional 6,760,416 shares during the period. PointState Capital LP boosted its holdings in shares of Suncor Energy by 1,705.8% during the third quarter. PointState Capital LP now owns 3,384,128 shares of the oil and gas producer’s stock valued at $130,932,000 after acquiring an additional 3,196,728 shares during the period. Finally, Waddell & Reed Financial Inc. boosted its holdings in shares of Suncor Energy by 203.0% during the second quarter. Waddell & Reed Financial Inc. now owns 4,284,540 shares of the oil and gas producer’s stock valued at $174,295,000 after acquiring an additional 2,870,436 shares during the period. 64.82% of the stock is owned by institutional investors and hedge funds.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.

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