Suncor Energy (NYSE:SU) Cut to Sector Perform Overweight at National Bank Financial

National Bank Financial cut shares of Suncor Energy (NYSE:SU) (TSE:SU) from an outperform overweight rating to a sector perform overweight rating in a research report released on Tuesday, Zacks.com reports.

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

SU traded up $0.12 during trading on Tuesday, reaching $29.98. 2,186,468 shares of the company were exchanged, compared to its average volume of 3,310,570. The company’s 50-day moving average is $29.92 and its two-hundred day moving average is $31.18. The company has a market cap of $46.64 billion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 1.69 and a beta of 1.05. The company has a quick ratio of 0.63, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. Suncor Energy has a 12-month low of $25.81 and a 12-month high of $40.03.

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

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were given a dividend of $0.321 per share. The ex-dividend date was Tuesday, September 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a dividend yield of 4.28%. Suncor Energy’s dividend payout ratio is 63.00%.

Several institutional investors have recently made changes to their positions in SU. Invesco Ltd. increased its position in shares of Suncor Energy by 38.9% during the 2nd quarter. Invesco Ltd. now owns 45,009,227 shares of the oil and gas producer’s stock valued at $1,402,487,000 after purchasing an additional 12,616,590 shares during the last quarter. Beutel Goodman & Co Ltd. increased its position in shares of Suncor Energy by 2,637.7% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 4,430,443 shares of the oil and gas producer’s stock valued at $138,396,000 after purchasing an additional 4,268,614 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Suncor Energy by 328.2% during the 1st quarter. Lazard Asset Management LLC now owns 3,849,360 shares of the oil and gas producer’s stock valued at $124,834,000 after purchasing an additional 2,950,451 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Suncor Energy by 330.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 2,664,157 shares of the oil and gas producer’s stock valued at $83,125,000 after purchasing an additional 2,045,647 shares during the last quarter. Finally, National Pension Service bought a new position in shares of Suncor Energy during the 2nd quarter valued at about $78,789,000. Hedge funds and other institutional investors own 64.07% of the company’s stock.

About Suncor Energy

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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