Suncor Energy (NYSE:SU) Earns “Buy” Rating from Credit Suisse Group

Credit Suisse Group reissued their buy rating on shares of Suncor Energy (NYSE:SU) (TSE:SU) in a report issued on Thursday, AnalystRatings.com reports.

Several other equities research analysts have also recently commented on the company. ValuEngine raised Suncor Energy from a hold rating to a buy rating in a research note on Thursday, July 23rd. UBS Group boosted their price target on Suncor Energy from $24.50 to $42.00 and gave the company a buy rating in a research note on Monday, June 29th. Scotiabank raised Suncor Energy from a sector perform rating to a sector outperform rating in a research report on Thursday, June 11th. Wells Fargo & Co reaffirmed a buy rating on shares of Suncor Energy in a research report on Friday, July 24th. Finally, Raymond James reaffirmed a buy rating on shares of Suncor Energy in a research report on Wednesday, May 6th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Suncor Energy currently has a consensus rating of Buy and a consensus price target of $37.11.

Shares of NYSE SU opened at $15.76 on Thursday. The stock has a market cap of $24.04 billion, a price-to-earnings ratio of 197.00 and a beta of 1.42. The business has a 50 day simple moving average of $17.00 and a 200 day simple moving average of $20.52. Suncor Energy has a 52 week low of $9.60 and a 52 week high of $34.56. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.63 and a current ratio of 1.02.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Wednesday, July 22nd. The oil and gas producer reported ($0.98) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.44) by ($0.54). The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $4.07 billion. Suncor Energy had a negative net margin of 17.17% and a positive return on equity of 0.44%. On average, analysts predict that Suncor Energy will post -0.89 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a $0.1565 dividend. This represents a $0.63 annualized dividend and a dividend yield of 3.97%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, September 3rd. Suncor Energy’s dividend payout ratio is currently 28.77%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Fox Run Management L.L.C. bought a new stake in shares of Suncor Energy in the second quarter valued at approximately $276,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Suncor Energy in the second quarter valued at approximately $214,000. Miller Howard Investments Inc. NY bought a new stake in shares of Suncor Energy in the second quarter valued at approximately $574,000. Intact Investment Management Inc. raised its stake in shares of Suncor Energy by 187.4% in the second quarter. Intact Investment Management Inc. now owns 3,903,616 shares of the oil and gas producer’s stock valued at $89,237,000 after purchasing an additional 2,545,300 shares in the last quarter. Finally, GWM Advisors LLC acquired a new position in shares of Suncor Energy in the second quarter valued at $280,000. 66.12% of the stock is owned by institutional investors.

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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Analyst Recommendations for Suncor Energy (NYSE:SU)

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