Scotiabank Raises Suncor Energy (NYSE:SU) Price Target to C$38.00

Suncor Energy (NYSE:SU) (TSE:SU) had its target price hoisted by analysts at Scotiabank from C$37.00 to C$38.00 in a research report issued to clients and investors on Thursday, The Fly reports.

Several other equities analysts have also recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Suncor Energy from a “neutral” rating to an “overweight” rating and raised their target price for the company from $29.00 to $39.00 in a research note on Thursday, October 28th. Bank of America initiated coverage on shares of Suncor Energy in a research report on Monday, January 10th. They set a “buy” rating for the company. National Bank Financial lifted their price objective on shares of Suncor Energy from C$36.00 to C$39.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 29th. Morgan Stanley initiated coverage on shares of Suncor Energy in a research report on Thursday, October 7th. They set an “overweight” rating and a $38.00 price objective for the company. Finally, Credit Suisse Group lifted their price objective on shares of Suncor Energy from C$36.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 2nd. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Suncor Energy has a consensus rating of “Buy” and an average target price of $37.93.

NYSE SU opened at $28.23 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.98 and a debt-to-equity ratio of 0.39. Suncor Energy has a 12-month low of $16.40 and a 12-month high of $28.74. The company has a market capitalization of $41.09 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 0.80 and a beta of 1.70. The firm’s 50 day moving average is $25.28 and its 200-day moving average is $22.57.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Wednesday, October 27th. The oil and gas producer reported $0.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.02). Suncor Energy had a net margin of 7.02% and a return on equity of 6.67%. The business had revenue of $8.11 billion during the quarter, compared to analyst estimates of $9.07 billion. As a group, sell-side analysts expect that Suncor Energy will post 2.15 EPS for the current year.

A number of hedge funds have recently bought and sold shares of SU. FMR LLC raised its stake in Suncor Energy by 34.3% in the second quarter. FMR LLC now owns 53,574,915 shares of the oil and gas producer’s stock valued at $1,283,196,000 after purchasing an additional 13,697,247 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Suncor Energy by 8,710.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 8,880,833 shares of the oil and gas producer’s stock valued at $184,046,000 after purchasing an additional 8,780,033 shares in the last quarter. Toronto Dominion Bank raised its stake in Suncor Energy by 61.2% in the third quarter. Toronto Dominion Bank now owns 15,016,437 shares of the oil and gas producer’s stock valued at $311,323,000 after purchasing an additional 5,699,989 shares in the last quarter. Amundi acquired a new position in Suncor Energy in the second quarter valued at about $106,010,000. Finally, The Manufacturers Life Insurance Company raised its stake in Suncor Energy by 12.4% in the third quarter. The Manufacturers Life Insurance Company now owns 26,683,495 shares of the oil and gas producer’s stock valued at $700,709,000 after purchasing an additional 2,940,798 shares in the last quarter. 58.73% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Company Profile

Suncor Energy, Inc is an integrated energy company, which develops petroleum resource basins. Its activities include oil sands development, and upgrading, onshore and offshore oil and gas production, petroleum refining, and product marketing. The company operates through the following business segments: Oil Sands; Exploration and Production; and Refining and Marketing.

See Also: What is a SEC Filing?

The Fly logo

Analyst Recommendations for Suncor Energy (NYSE:SU)

Receive News & Ratings for Suncor Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Suncor Energy and related companies with MarketBeat.com's FREE daily email newsletter.