Suncor Energy Inc. (NYSE:SU) (TSE:SU) has been given an average recommendation of “Buy” by the fifteen analysts that are covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $52.17.
Several equities research analysts have recently weighed in on the company. ValuEngine downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, September 11th. JPMorgan Chase & Co. downgraded Suncor Energy from an “overweight” rating to a “neutral” rating in a research report on Tuesday, September 11th. CIBC assumed coverage on Suncor Energy in a research report on Friday, October 5th. They issued a “sector outperform” rating for the company. Zacks Investment Research raised Suncor Energy from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Monday, October 8th. Finally, Macquarie raised Suncor Energy from a “neutral” rating to an “outperform” rating in a research report on Tuesday, October 9th.
A number of institutional investors and hedge funds have recently modified their holdings of SU. Capital International Investors boosted its holdings in Suncor Energy by 680.0% in the third quarter. Capital International Investors now owns 35,098,879 shares of the oil and gas producer’s stock valued at $1,358,140,000 after purchasing an additional 30,599,078 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Suncor Energy by 19,812.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,430,116 shares of the oil and gas producer’s stock worth $326,160,000 after buying an additional 8,387,781 shares during the last quarter. Sanders Capital LLC lifted its holdings in Suncor Energy by 57.3% during the 3rd quarter. Sanders Capital LLC now owns 18,556,830 shares of the oil and gas producer’s stock worth $798,710,000 after buying an additional 6,760,416 shares during the last quarter. PointState Capital LP lifted its holdings in Suncor Energy by 1,705.8% during the 3rd quarter. PointState Capital LP now owns 3,384,128 shares of the oil and gas producer’s stock worth $130,932,000 after buying an additional 3,196,728 shares during the last quarter. Finally, Waddell & Reed Financial Inc. lifted its holdings in Suncor Energy by 203.0% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 4,284,540 shares of the oil and gas producer’s stock worth $174,295,000 after buying an additional 2,870,436 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.
Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Wednesday, October 31st. The oil and gas producer reported $0.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.25. The company had revenue of $8.31 billion during the quarter, compared to analyst estimates of $9.29 billion. Suncor Energy had a return on equity of 11.11% and a net margin of 12.66%. During the same period in the prior year, the firm posted $0.52 earnings per share. As a group, research analysts anticipate that Suncor Energy will post 2.46 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 24th. Investors of record on Monday, December 3rd will be issued a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Friday, November 30th. Suncor Energy’s dividend payout ratio is currently 71.52%.
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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