Suncor Energy Inc. (SU) Receives Average Rating of “Buy” from Brokerages
Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) have been given a consensus recommendation of “Buy” by the twenty-one ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, fourteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $44.30.
A number of equities research analysts have commented on the company. Zacks Investment Research cut Suncor Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Morgan Stanley increased their target price on Suncor Energy from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, October 13th. Barclays PLC reiterated an “overweight” rating and set a $52.00 target price (up previously from $47.00) on shares of Suncor Energy in a report on Wednesday, July 12th. Wolfe Research upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Monday, October 16th. Finally, AltaCorp Capital cut Suncor Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, July 28th.
Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Wednesday, October 25th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.15. The business had revenue of $6.40 billion for the quarter, compared to analysts’ expectations of $6.80 billion. Suncor Energy had a return on equity of 5.68% and a net margin of 11.63%.
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Several institutional investors have recently modified their holdings of the business. Financial Architects Inc lifted its stake in shares of Suncor Energy by 1.4% during the 2nd quarter. Financial Architects Inc now owns 6,806 shares of the oil and gas producer’s stock worth $199,000 after purchasing an additional 93 shares during the period. Gateway Investment Advisers LLC lifted its stake in shares of Suncor Energy by 0.7% during the 2nd quarter. Gateway Investment Advisers LLC now owns 17,676 shares of the oil and gas producer’s stock worth $516,000 after purchasing an additional 116 shares during the period. Advisory Services Network LLC lifted its stake in shares of Suncor Energy by 3.9% during the 2nd quarter. Advisory Services Network LLC now owns 6,470 shares of the oil and gas producer’s stock worth $189,000 after purchasing an additional 245 shares during the period. Peapack Gladstone Financial Corp lifted its stake in shares of Suncor Energy by 3.2% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 13,593 shares of the oil and gas producer’s stock worth $397,000 after purchasing an additional 417 shares during the period. Finally, Lincoln National Corp lifted its stake in shares of Suncor Energy by 1.9% during the 2nd quarter. Lincoln National Corp now owns 25,046 shares of the oil and gas producer’s stock worth $731,000 after purchasing an additional 463 shares during the period. 63.94% of the stock is currently owned by institutional investors.
Suncor Energy Company Profile
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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