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

StockNews.com cut shares of Suncor Energy (NYSE:SU) (TSE:SU) from a buy rating to a hold rating in a research note released on Thursday.

SU has been the topic of several other research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 price objective on shares of Suncor Energy in a research note on Tuesday, January 7th. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Scotiabank raised shares of Suncor Energy to a “hold” rating in a research note on Wednesday, March 19th. Cibc World Mkts raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Finally, Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Five equities 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 company. Based on data from MarketBeat, Suncor Energy currently has an average rating of “Moderate Buy” and a consensus target price of $59.20.

Suncor Energy Stock Performance

SU stock opened at $34.48 on Thursday. The firm has a market cap of $42.66 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 2.94 and a beta of 0.79. Suncor Energy has a twelve month low of $30.79 and a twelve month high of $41.95. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The business’s fifty day simple moving average is $36.67 and its two-hundred day simple moving average is $37.85.

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

Suncor Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.399 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend was Tuesday, March 4th. Suncor Energy’s payout ratio is presently 45.51%.

Institutional Trading of Suncor Energy

A number of institutional investors have recently made changes to their positions in SU. HHM Wealth Advisors LLC boosted its holdings 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 worth $30,000 after acquiring an additional 325 shares in the last quarter. Hanson & Doremus Investment Management boosted its stake in Suncor Energy by 143.5% in the 1st quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 465 shares in the last quarter. Salem Investment Counselors Inc. grew its position in Suncor Energy by 97.6% during the 1st quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 405 shares during the last quarter. Crowley Wealth Management Inc. acquired a new position in Suncor Energy during the 4th quarter valued at approximately $35,000. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Suncor Energy in the fourth quarter worth $36,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

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.