Suncor Energy Inc. (NYSE:SU) Given Average Recommendation of “Buy” by Brokerages
Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) have been assigned an average recommendation of “Buy” from the thirteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $42.11.
SU has been the topic of several research reports. Zacks Investment Research cut shares of Suncor Energy from a “buy” rating to a “hold” rating and set a $34.00 price target on the stock. in a research report on Monday, February 10th. ValuEngine cut Suncor Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, March 17th. Wells Fargo & Co dropped their price target on Suncor Energy from $50.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, March 20th. Royal Bank of Canada reissued a “buy” rating and issued a $31.00 price target on shares of Suncor Energy in a research note on Monday, March 16th. Finally, JPMorgan Chase & Co. dropped their price target on Suncor Energy from $43.00 to $33.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 11th.
Large investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Suncor Energy in the 4th quarter valued at approximately $593,967,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Suncor Energy by 35.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 36,909,449 shares of the oil and gas producer’s stock worth $1,210,630,000 after purchasing an additional 9,754,349 shares during the last quarter. Beutel Goodman & Co Ltd. grew its holdings in shares of Suncor Energy by 205.5% during the third quarter. Beutel Goodman & Co Ltd. now owns 13,042,524 shares of the oil and gas producer’s stock worth $411,456,000 after purchasing an additional 8,773,910 shares during the last quarter. Sanders Capital LLC grew its holdings in shares of Suncor Energy by 18.7% during the fourth quarter. Sanders Capital LLC now owns 31,000,294 shares of the oil and gas producer’s stock worth $1,065,765,000 after purchasing an additional 4,891,210 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in shares of Suncor Energy by 10.2% during the fourth quarter. 1832 Asset Management L.P. now owns 21,991,157 shares of the oil and gas producer’s stock worth $722,123,000 after purchasing an additional 2,032,523 shares during the last quarter. 66.56% of the stock is currently owned by institutional investors.
Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.39 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.11). Suncor Energy had a return on equity of 9.86% and a net margin of 7.35%. The business had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $8.86 billion. As a group, analysts expect that Suncor Energy will post 0.67 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 10.41%. The ex-dividend date is Tuesday, March 3rd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.32. Suncor Energy’s payout ratio is 65.57%.
Suncor Energy Company Profile
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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