Suncor Energy (NYSE:SU) Stock Rating Upgraded by Tudor Pickering

Tudor Pickering upgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) from a hold rating to a strong-buy rating in a report published on Monday,Zacks.com reports.

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

Suncor Energy Price Performance

Shares of SU stock opened at $40.65 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. Suncor Energy has a fifty-two week low of $31.25 and a fifty-two week high of $41.94. The firm has a market cap 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 business’s 50 day moving average price is $37.64 and its 200-day moving average price is $38.56.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly 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 net margin of 11.80% and a return on equity of 15.33%. On average, equities research analysts anticipate that Suncor Energy will post 3.25 earnings per share for the current year.

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s dividend payout ratio is presently 46.67%.

Institutional Investors Weigh In On Suncor Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Securities Inc. raised its holdings in Suncor Energy by 2.2% during the fourth quarter. Principal Securities Inc. now owns 12,423 shares of the oil and gas producer’s stock valued at $443,000 after acquiring an additional 265 shares during the period. UMB Bank n.a. grew its position in shares of Suncor Energy by 27.5% during the fourth quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer’s stock worth $50,000 after purchasing an additional 300 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Suncor Energy by 0.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 112,925 shares of the oil and gas producer’s stock valued at $4,169,000 after purchasing an additional 321 shares during the period. HHM Wealth Advisors LLC lifted its holdings in Suncor Energy by 62.1% in the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock worth $30,000 after purchasing an additional 325 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its stake in Suncor Energy by 11.9% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 3,142 shares of the oil and gas producer’s stock worth $112,000 after purchasing an additional 333 shares during the period. 67.37% of the stock is owned by hedge funds and other institutional investors.

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.