Suncor Energy (NYSE:SU) Rating Increased to Strong-Buy at Tudor Pickering

Tudor Pickering upgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) from a hold rating to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

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

Suncor Energy Stock Up 2.8 %

Suncor Energy stock opened at $40.65 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $50.59 billion, a P/E ratio of 11.78, a P/E/G ratio of 2.96 and a beta of 1.12. The firm has a 50 day moving average price of $37.64 and a 200-day moving average price of $38.56. Suncor Energy has a twelve month low of $31.25 and a twelve month high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) 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%. As a group, equities analysts predict that Suncor Energy will post 3.25 EPS for the current year.

Suncor Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 46.67%.

Hedge Funds Weigh In On Suncor Energy

Several institutional investors have recently modified their holdings of SU. Eastern Bank purchased a new stake in Suncor Energy during the 3rd quarter valued at about $25,000. HHM Wealth Advisors LLC lifted its position in Suncor Energy by 62.1% in the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after purchasing an additional 325 shares during the last quarter. Crowley Wealth Management Inc. purchased a new stake in shares of Suncor Energy during the fourth quarter valued at approximately $35,000. Lee Danner & Bass Inc. bought a new position in shares of Suncor Energy in the fourth quarter worth approximately $36,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Suncor Energy in the fourth quarter worth $39,000. 67.37% of the stock is currently 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.