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

Suncor Energy (NYSE:SU) (TSE:SU) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Several other analysts also recently weighed in on SU. Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 target price on shares of Suncor Energy in a report on Tuesday, January 7th. Finally, Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Suncor Energy Trading Up 2.3 %

NYSE:SU opened at $36.63 on Friday. The stock has a 50-day simple moving average of $38.29 and a 200-day simple moving average of $38.24. The stock has a market cap of $45.32 billion, a P/E ratio of 10.62, a P/E/G ratio of 2.94 and a beta of 1.11. Suncor Energy has a 1 year low of $33.81 and a 1 year high of $41.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33.

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

Hedge Funds Weigh In On Suncor Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. PKO Investment Management Joint Stock Co acquired a new position in Suncor Energy during the 4th quarter worth approximately $1,500,000. Leigh Baldwin & CO. LLC acquired a new position in Suncor Energy during the 4th quarter worth approximately $316,000. Polar Asset Management Partners Inc. acquired a new position in Suncor Energy during the 4th quarter worth approximately $1,962,000. Forum Financial Management LP increased its position in Suncor Energy by 72.0% during the 4th quarter. Forum Financial Management LP now owns 9,618 shares of the oil and gas producer’s stock worth $343,000 after purchasing an additional 4,026 shares during the period. Finally, Castlekeep Investment Advisors LLC acquired a new position in Suncor Energy during the 4th quarter worth approximately $423,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

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.