UBS Group Boosts Suncor Energy (NYSE:SU) Price Target to $42.00

Suncor Energy (NYSE:SU) (TSE:SU) had its target price upped by investment analysts at UBS Group from $24.50 to $42.00 in a research report issued to clients and investors on Monday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. UBS Group’s price objective suggests a potential upside of 147.64% from the company’s current price.

Several other research 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 Thursday, April 2nd. Scotiabank raised Suncor Energy from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, June 11th. JPMorgan Chase & Co. dropped their price target on Suncor Energy from $43.00 to $33.00 and set a “neutral” rating on the stock in a report on Wednesday, March 11th. Zacks Investment Research raised Suncor Energy from a “strong sell” rating to a “hold” rating and set a $10.00 price target on the stock in a report on Thursday, March 26th. Finally, Credit Suisse Group dropped their price target on Suncor Energy from $33.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Suncor Energy currently has an average rating of “Buy” and a consensus price target of $37.11.

SU opened at $16.96 on Monday. The company has a market capitalization of $25.00 billion, a price-to-earnings ratio of -16.00 and a beta of 1.43. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.81 and a quick ratio of 0.54. Suncor Energy has a 1-year low of $9.60 and a 1-year high of $34.56. The business has a 50 day moving average price of $17.75 and a two-hundred day moving average price of $22.99.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, May 5th. The oil and gas producer reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The firm had revenue of $5.78 billion during the quarter, compared to analyst estimates of $8.49 billion. Suncor Energy had a positive return on equity of 6.68% and a negative net margin of 5.60%. During the same quarter last year, the company earned $0.77 earnings per share. Equities analysts expect that Suncor Energy will post -0.82 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. AXA increased its stake in shares of Suncor Energy by 12.1% in the first quarter. AXA now owns 115,280 shares of the oil and gas producer’s stock worth $1,822,000 after acquiring an additional 12,466 shares during the last quarter. National Pension Service increased its stake in shares of Suncor Energy by 1.1% in the first quarter. National Pension Service now owns 2,189,676 shares of the oil and gas producer’s stock worth $49,180,000 after acquiring an additional 23,661 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Suncor Energy by 18.1% in the first quarter. The Manufacturers Life Insurance Company now owns 16,653,195 shares of the oil and gas producer’s stock worth $263,121,000 after acquiring an additional 2,556,285 shares during the last quarter. FDx Advisors Inc. acquired a new position in shares of Suncor Energy in the first quarter worth $732,000. Finally, APG Asset Management N.V. increased its stake in shares of Suncor Energy by 3.7% in the first quarter. APG Asset Management N.V. now owns 4,973,349 shares of the oil and gas producer’s stock worth $78,479,000 after acquiring an additional 175,356 shares during the last quarter. 66.67% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Company Profile

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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