Suncor Energy (NYSE:SU) Shares Up 6.7%

Suncor Energy Inc. (NYSE:SU) (TSE:SU) shot up 6.7% during mid-day trading on Monday . The company traded as high as $32.74 and last traded at $32.44, 5,800,142 shares traded hands during trading. An increase of 72% from the average session volume of 3,379,240 shares. The stock had previously closed at $30.41.

A number of brokerages recently issued reports on SU. BMO Capital Markets reissued a “buy” rating on shares of Suncor Energy in a research report on Monday, June 24th. Citigroup lowered their price target on shares of Suncor Energy from $59.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Finally, ValuEngine raised shares of Suncor Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Suncor Energy presently has an average rating of “Buy” and an average target price of $48.23.

The company has a quick ratio of 0.63, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $47.73 billion, a PE ratio of 16.22, a PEG ratio of 1.69 and a beta of 1.07. The firm’s fifty day simple moving average is $28.90 and its 200-day simple moving average is $31.39.



Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Wednesday, July 24th. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.09). Suncor Energy had a return on equity of 10.20% and a net margin of 14.55%. The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $8.15 billion. As a group, analysts predict that Suncor Energy Inc. will post 2.45 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be paid a $0.321 dividend. The ex-dividend date is Tuesday, September 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.96%. Suncor Energy’s payout ratio is currently 63.00%.

Hedge funds have recently made changes to their positions in the company. Princeton Global Asset Management LLC grew its stake in shares of Suncor Energy by 6.8% in the first quarter. Princeton Global Asset Management LLC now owns 67,179 shares of the oil and gas producer’s stock worth $2,178,000 after acquiring an additional 4,277 shares during the period. Icon Wealth Partners LLC bought a new stake in shares of Suncor Energy in the first quarter worth approximately $58,000. Perkins Coie Trust Co grew its stake in shares of Suncor Energy by 24.4% in the second quarter. Perkins Coie Trust Co now owns 3,160 shares of the oil and gas producer’s stock worth $98,000 after acquiring an additional 620 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in Suncor Energy by 39.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 94,631 shares of the oil and gas producer’s stock valued at $3,070,000 after buying an additional 26,997 shares during the period. Finally, Regentatlantic Capital LLC grew its position in Suncor Energy by 46.3% during the second quarter. Regentatlantic Capital LLC now owns 12,432 shares of the oil and gas producer’s stock valued at $387,000 after buying an additional 3,935 shares during the period. Hedge funds and other institutional investors own 64.39% of the company’s stock.

Suncor Energy Company Profile (NYSE:SU)

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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