Suncor Energy (NYSE:SU) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Suncor Energy (NYSE:SU) (TSE:SU) from a buy rating to a hold rating in a report issued on Thursday morning.

Several other analysts have also weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 price objective on shares of Suncor Energy in a report on Tuesday, January 7th. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Scotiabank upgraded shares of Suncor Energy to a “hold” rating in a research report on Wednesday, March 19th. Finally, 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. Five 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. According to MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average price target of $59.20.

Suncor Energy Trading Up 2.0 %

Shares of Suncor Energy stock opened at $34.48 on Thursday. The company 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 1 year low of $30.79 and a 1 year high of $41.95. The company’s fifty day simple moving average is $36.79 and its 200-day simple moving average is $37.88. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (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%. As a group, sell-side analysts expect that Suncor Energy will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

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

Hedge Funds Weigh In On Suncor Energy

Institutional investors have recently bought and sold shares of the business. Medici Capital LLC bought a new position in shares of Suncor Energy in the first quarter valued at about $1,158,000. Inscription Capital LLC bought a new position in shares of Suncor Energy in the first quarter worth about $247,000. Sagespring Wealth Partners LLC raised its stake in shares of Suncor Energy by 5.8% in the first quarter. Sagespring Wealth Partners LLC now owns 6,065 shares of the oil and gas producer’s stock worth $235,000 after acquiring an additional 332 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of Suncor Energy during the first quarter worth approximately $230,000. Finally, Hanson & Doremus Investment Management grew its stake in shares of Suncor Energy by 143.5% during the first quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 465 shares during the last quarter. Institutional investors 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.