Bank of America Begins Coverage on Suncor Energy (NYSE:SU)

Analysts at Bank of America initiated coverage on shares of Suncor Energy (NYSE:SU) (TSE:SU) in a note issued to investors on Wednesday. The firm set a “neutral” rating on the oil and gas producer’s stock.

A number of other analysts have also recently commented on the stock. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Finally, StockNews.com downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Tuesday. Five analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Suncor Energy Stock Down 0.7 %

NYSE:SU traded down $0.29 on Wednesday, hitting $38.34. 236,149 shares of the company’s stock were exchanged, compared to its average volume of 4,381,292. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86. The firm has a 50-day moving average price of $38.06 and a 200-day moving average price of $38.66. The company has a market cap of $47.72 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 2.94 and a beta of 1.12. Suncor Energy has a 52 week low of $33.26 and a 52 week high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. As a group, analysts expect that Suncor Energy will post 3.42 EPS for the current fiscal year.

Institutional Trading of Suncor Energy

A number of institutional investors have recently modified their holdings of SU. HHM Wealth Advisors LLC boosted its stake in shares of 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 valued at $30,000 after purchasing an additional 325 shares in the last quarter. Crowley Wealth Management Inc. acquired a new stake in shares of Suncor Energy during the 4th quarter valued at $35,000. Lee Danner & Bass Inc. acquired a new stake in shares of Suncor Energy during the 4th quarter valued at $36,000. Golden State Wealth Management LLC bought a new stake in Suncor Energy during the 4th quarter worth $39,000. Finally, Covestor Ltd increased its holdings in Suncor Energy by 30.5% in the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock worth $39,000 after purchasing an additional 256 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Company Profile

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.