Suncor Energy (NYSE:SU) Rating Increased to Strong-Buy at Wall Street Zen

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Sunday.

Several other research analysts have also recently weighed in on SU. Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, June 26th. Scotiabank raised Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. ATB Cormark Capital Markets raised Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. Finally, The Goldman Sachs Group cut Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a research report on Friday, June 5th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $71.67.

Suncor Energy Stock Performance

SU traded up $0.73 during trading hours on Friday, reaching $59.22. The company’s stock had a trading volume of 3,398,603 shares, compared to its average volume of 4,746,634. The company’s 50-day moving average is $61.60 and its 200-day moving average is $58.04. Suncor Energy has a 52 week low of $37.76 and a 52 week high of $70.29. The firm has a market cap of $69.92 billion, a PE ratio of 15.54 and a beta of 0.30. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.04). The company had revenue of $10.41 billion during the quarter, compared to analyst estimates of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same quarter in the prior year, the firm earned $1.31 earnings per share. On average, equities analysts forecast that Suncor Energy will post 7.07 EPS for the current year.

Hedge Funds Weigh In On Suncor Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Gradient Investments LLC raised its holdings in Suncor Energy by 2.9% in the 2nd quarter. Gradient Investments LLC now owns 119,099 shares of the oil and gas producer’s stock valued at $6,393,000 after acquiring an additional 3,333 shares in the last quarter. Balefire LLC bought a new stake in shares of Suncor Energy during the 2nd quarter valued at $638,000. Baron Wealth Management LLC grew its holdings in shares of Suncor Energy by 3.0% during the 2nd quarter. Baron Wealth Management LLC now owns 11,981 shares of the oil and gas producer’s stock worth $643,000 after purchasing an additional 345 shares in the last quarter. Grove Bank & Trust bought a new position in shares of Suncor Energy in the second quarter worth $439,000. Finally, Pacific Excel Wealth Advisors Inc. bought a new position in shares of Suncor Energy in the second quarter worth $308,000. Institutional investors own 67.37% of the company’s stock.

About Suncor Energy

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.