Suncor Energy (NYSE:SU) Earns Outperform Rating from Royal Bank of Canada

Suncor Energy (NYSE:SU) (TSE:SU)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a research note issued on Tuesday,Benzinga reports. They currently have a $66.00 price target on the oil and gas producer’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 72.37% from the company’s previous close.

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

Suncor Energy Price Performance

Shares of Suncor Energy stock opened at $38.29 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. The company has a market cap of $47.94 billion, a PE ratio of 8.34, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12. The firm has a fifty day moving average price of $37.97 and a two-hundred day moving average price of $38.46. Suncor Energy has a fifty-two week low of $31.03 and a fifty-two week high of $41.94.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SU. Eastern Bank acquired a new stake in Suncor Energy in the 3rd quarter valued at about $25,000. Richardson Financial Services Inc. raised its position in Suncor Energy by 82.8% in the 2nd 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 last quarter. Waldron Private Wealth LLC bought a new stake in shares of Suncor Energy during the third quarter worth $49,000. Transamerica Financial Advisors Inc. raised its stake in shares of Suncor Energy by 2,311.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,977 shares of the oil and gas producer’s stock worth $73,000 after buying an additional 1,895 shares during the last quarter. Finally, Mattson Financial Services LLC acquired a new position in Suncor Energy in the second quarter valued at approximately $82,000. 67.37% of the stock is owned by institutional investors.

About Suncor Energy

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.