Other analysts have also recently issued reports about the company. TD Securities upgraded Suncor Energy from a hold rating to a buy rating and upped their target price for the company from $39.00 to $40.00 in a report on Wednesday, June 22nd. Zacks Investment Research cut Suncor Energy from a buy rating to a hold rating in a report on Monday, August 8th. Vetr cut Suncor Energy from a strong-buy rating to a buy rating and set a $31.93 price target for the company. in a report on Tuesday, June 7th. Citigroup Inc. upgraded Suncor Energy from a neutral rating to a buy rating and increased their price target for the stock from $40.00 to $44.00 in a report on Thursday, June 23rd. Finally, Raymond James Financial Inc. reiterated an outperform rating and set a $42.00 price target (down from $43.00) on shares of Suncor Energy in a report on Thursday, June 9th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $38.44.
Suncor Energy (NYSE:SU) traded up 0.29% during mid-day trading on Friday, hitting $27.78. The company had a trading volume of 4,582,576 shares. The company’s market capitalization is $46.24 billion. The company has a 50-day moving average price of $27.28 and a 200 day moving average price of $27.37. Suncor Energy has a 52-week low of $18.71 and a 52-week high of $30.70.
Suncor Energy (NYSE:SU) last issued its earnings results on Wednesday, July 27th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by $0.15. Suncor Energy had a negative net margin of 11.29% and a negative return on equity of 1.59%. During the same period in the previous year, the firm earned $0.63 earnings per share. On average, analysts forecast that Suncor Energy will post ($0.34) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 26th. Stockholders of record on Tuesday, September 6th were issued a $0.2194 dividend. The ex-dividend date was Thursday, September 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.16%. Suncor Energy’s payout ratio is currently -60.54%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in Suncor Energy by 8.8% in the second quarter. FMR LLC now owns 88,848,770 shares of the company’s stock worth $2,464,755,000 after buying an additional 7,159,007 shares during the last quarter. Capital Research Global Investors increased its position in Suncor Energy by 12.9% in the second quarter. Capital Research Global Investors now owns 70,432,422 shares of the company’s stock worth $1,953,867,000 after buying an additional 8,049,944 shares during the last quarter. Bank of New York Mellon Corp increased its position in Suncor Energy by 12.1% in the second quarter. Bank of New York Mellon Corp now owns 46,214,835 shares of the company’s stock worth $1,281,537,000 after buying an additional 4,998,480 shares during the last quarter. TD Asset Management Inc. increased its position in Suncor Energy by 2.0% in the second quarter. TD Asset Management Inc. now owns 44,810,146 shares of the company’s stock worth $1,236,620,000 after buying an additional 858,430 shares during the last quarter. Finally, Capital World Investors increased its position in Suncor Energy by 11.6% in the second quarter. Capital World Investors now owns 38,788,644 shares of the company’s stock worth $1,076,036,000 after buying an additional 4,045,701 shares during the last quarter. Institutional investors and hedge funds own 64.08% of the company’s stock.
About Suncor Energy
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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