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

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by analysts at Tudor Pickering from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

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

Suncor Energy Price Performance

Shares of NYSE:SU opened at $40.65 on Monday. Suncor Energy has a 12 month low of $31.25 and a 12 month high of $41.94. The firm 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 company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. The company’s fifty day moving average price is $37.64 and its 200 day moving average price is $38.56.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping analysts’ consensus estimates 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, sell-side analysts predict that Suncor Energy will post 3.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Suncor Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC increased its stake in Suncor Energy by 32.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer’s stock valued at $3,035,000 after purchasing an additional 20,081 shares in the last quarter. Intech Investment Management LLC grew its holdings in Suncor Energy by 1,345.8% in the third quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer’s stock valued at $17,309,000 after purchasing an additional 436,016 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of Suncor Energy in the third quarter valued at $1,376,000. Assenagon Asset Management S.A. increased its position in shares of Suncor Energy by 1,324.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock valued at $123,774,000 after buying an additional 3,225,543 shares in the last quarter. Finally, DRW Securities LLC acquired a new position in shares of Suncor Energy during the 3rd quarter worth $1,151,000. 67.37% of the stock is owned by institutional investors and hedge funds.

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.