Suncor Energy (NYSE:SU) Coverage Initiated at Bank of America

Analysts at Bank of America started coverage on shares of Suncor Energy (NYSE:SU) (TSE:SU) in a report issued on Wednesday. The firm set a “neutral” rating on the oil and gas producer’s stock.

Several other research firms have also issued reports on SU. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Morgan Stanley lowered Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. StockNews.com lowered Suncor Energy from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Stock Down 0.7 %

SU traded down $0.29 on Wednesday, reaching $38.34. 236,149 shares of the company traded hands, compared to its average volume of 4,381,292. The company has a market cap of $47.72 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 2.94 and a beta of 1.12. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86. The stock’s 50 day moving average price is $38.06 and its 200-day moving average price is $38.66. Suncor Energy has a 52-week low of $33.26 and a 52-week high of $41.94.

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, beating 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%. On average, sell-side analysts expect that Suncor Energy will post 3.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Leigh Baldwin & CO. LLC acquired a new stake in shares of Suncor Energy during the fourth quarter worth $316,000. Polar Asset Management Partners Inc. acquired a new stake in shares of Suncor Energy in the 4th quarter valued at about $1,962,000. Forum Financial Management LP lifted its holdings in shares of Suncor Energy by 72.0% in the fourth quarter. Forum Financial Management LP now owns 9,618 shares of the oil and gas producer’s stock valued at $343,000 after purchasing an additional 4,026 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new position in shares of Suncor Energy during the fourth quarter worth about $423,000. Finally, Pacific Point Advisors LLC acquired a new position in shares of Suncor Energy during the fourth quarter worth about $276,000. Institutional investors 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.