StockNews.com Downgrades Suncor Energy (NYSE:SU) to Hold

Suncor Energy (NYSE:SU) (TSE:SU) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

A number of other research analysts have also recently issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $66.00 price target on shares of Suncor Energy in a report on Friday, December 20th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, Morgan Stanley cut shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Trading Up 0.3 %

Shares of SU opened at $35.26 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. The company has a market cap of $44.36 billion, a price-to-earnings ratio of 7.68, a PEG ratio of 2.43 and a beta of 1.11. The stock has a fifty day moving average price of $38.29 and a two-hundred day moving average price of $38.47. Suncor Energy has a 52-week low of $31.03 and a 52-week high of $41.94.

Institutional Investors Weigh In On Suncor Energy

A number of institutional investors have recently made changes to their positions in the stock. National Bank of Canada FI grew its position in shares of Suncor Energy by 60.7% during the 2nd quarter. National Bank of Canada FI now owns 8,661,861 shares of the oil and gas producer’s stock worth $328,876,000 after buying an additional 3,272,896 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Suncor Energy by 23.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock worth $357,827,000 after acquiring an additional 1,829,936 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Suncor Energy by 23.0% during the third quarter. Principal Financial Group Inc. now owns 6,939,573 shares of the oil and gas producer’s stock valued at $256,429,000 after purchasing an additional 1,296,142 shares during the period. The Manufacturers Life Insurance Company increased its stake in Suncor Energy by 5.1% in the second quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock valued at $956,850,000 after purchasing an additional 1,209,073 shares in the last quarter. Finally, Merewether Investment Management LP acquired a new stake in Suncor Energy in the second quarter worth $42,268,000. 67.37% of the stock is owned by institutional investors and hedge funds.

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.