Royal Bank of Canada Reiterates Outperform Rating for Suncor Energy (NYSE:SU)

Suncor Energy (NYSE:SU) (TSE:SU)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank of Canada in a report issued on Tuesday,Benzinga reports. They currently have a $66.00 price objective on the oil and gas producer’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 72.37% from the company’s previous close.

A number of other research analysts have also issued reports on the company. StockNews.com lowered Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, December 26th. 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 Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Trading Down 0.1 %

NYSE:SU opened at $38.29 on Tuesday. The stock has a market cap of $47.94 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 2.43 and a beta of 1.12. 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 1 year low of $31.03 and a 1 year high of $41.94. The business has a fifty day moving average of $37.97 and a 200-day moving average of $38.46.

Institutional Trading of Suncor Energy

Hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC lifted its position in Suncor Energy by 133.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 76,651 shares of the oil and gas producer’s stock worth $2,920,000 after buying an additional 43,779 shares in the last quarter. Candriam S.C.A. raised its holdings in shares of Suncor Energy by 48.7% during the second quarter. Candriam S.C.A. now owns 9,196 shares of the oil and gas producer’s stock worth $350,000 after acquiring an additional 3,013 shares in the last quarter. Cullen Frost Bankers Inc. boosted its position in Suncor Energy by 253.7% during the second quarter. Cullen Frost Bankers Inc. now owns 9,887 shares of the oil and gas producer’s stock valued at $377,000 after purchasing an additional 7,092 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Suncor Energy during the 2nd quarter valued at about $10,075,000. Finally, Caprock Group LLC acquired a new stake in Suncor Energy in the second quarter valued at approximately $1,057,000. 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.