Weekly Research Analysts’ Ratings Updates for Suncor Energy (SU)

Suncor Energy (NYSE: SU) recently received a number of ratings updates from brokerages and research firms:

  • 12/4/2018 – Suncor Energy was downgraded by analysts at Macquarie from an “outperform” rating to a “hold” rating.
  • 12/3/2018 – Suncor Energy had its “average” rating reaffirmed by analysts at Mizuho. They now have a $52.00 price target on the stock.
  • 11/20/2018 – Suncor Energy was given a new $65.00 price target on by analysts at Canaccord Genuity. They now have a “buy” rating on the stock.
  • 11/16/2018 – Suncor Energy had its “hold” rating reaffirmed by analysts at Zacks Investment Research. According to Zacks, “Suncor boasts an impressive supply chain network, owning to significant oil sands and conventional production platform, along with a strong downstream portfolio, having a vast network ofretail and wholesale assets. The Canadian integrated energy giant came up with strong results in the latest quarter on the back of pricing and output gains along with higher refining margins. Importantly, production ramp-ups at the company's Fort Hills and Hebron projects are expected to drive future volumes and cash flows. However, poor operating history and frequent unplanned outages in its flagship Syncrude project is expected to put pressure on Suncor’s near-term earnings. As it is, extracting crude from the oil sands is a costly affair and as such, hampers profit margins. Hence, investors are advised to wait for a better entry point before buying shares in Suncor.”
  • 11/2/2018 – Suncor Energy had its “buy” rating reaffirmed by analysts at Raymond James.
  • 10/22/2018 – Suncor Energy was upgraded by analysts at GARP Research from a “neutral” rating to a “buy” rating.
  • 10/17/2018 – Suncor Energy was upgraded by analysts at AltaCorp Capital from a “sector perform” rating to an “outperform” rating.
  • 10/9/2018 – Suncor Energy was upgraded by analysts at Macquarie from a “neutral” rating to an “outperform” rating.
  • 10/8/2018 – Suncor Energy was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $44.00 price target on the stock. According to Zacks, “Suncor is one of the best positioned companies in the energy space given its access to abundant resources, rich operating experience and technical know-how. Importantly, strong production ramp up at the company's majority-owned Fort Hills oil sands mining facility is expected to drive future volumes and cash flows. Moreover, Suncor's success in controlling cash costs have magnified the effects of rebound in oil prices. A healthy dividend and aggressive share buyback program are other positives in the Suncor story. Consequently, Suncor Energy – which has outperformed the Zacks Oil & Gas Canadian Integrated industry year in the last six months – offers upside potential from current levels and is an attractive investment.”
  • 10/5/2018 – Suncor Energy is now covered by analysts at CIBC. They set a “sector outperform” rating on the stock.

Shares of NYSE:SU opened at $32.49 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.59 and a debt-to-equity ratio of 0.29. Suncor Energy Inc. has a 12-month low of $31.33 and a 12-month high of $42.55. The stock has a market capitalization of $52.23 billion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 1.48 and a beta of 1.00.

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

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 24th. Shareholders of record on Monday, December 3rd will be paid a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Friday, November 30th. Suncor Energy’s payout ratio is 72.19%.

Large investors have recently modified their holdings of the business. Bessemer Group Inc. acquired a new position in shares of Suncor Energy in the 2nd quarter valued at about $111,000. Howe & Rusling Inc. lifted its stake in shares of Suncor Energy by 80.2% in the 3rd quarter. Howe & Rusling Inc. now owns 3,314 shares of the oil and gas producer’s stock valued at $128,000 after purchasing an additional 1,475 shares in the last quarter. First Manhattan Co. lifted its stake in shares of Suncor Energy by 136.0% in the 2nd quarter. First Manhattan Co. now owns 4,000 shares of the oil and gas producer’s stock valued at $162,000 after purchasing an additional 2,305 shares in the last quarter. Almanack Investment Partners LLC. acquired a new position in shares of Suncor Energy in the 3rd quarter valued at about $156,000. Finally, Stratos Wealth Partners LTD. acquired a new position in shares of Suncor Energy in the 3rd quarter valued at about $187,000. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

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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