Suncor Energy (NYSE:SU) Cut to Hold at StockNews.com

StockNews.com cut shares of Suncor Energy (NYSE:SU) (TSE:SU) from a buy rating to a hold rating in a research note published on Thursday morning.

A number of other research firms also recently issued reports on SU. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 price objective on shares of Suncor Energy in a report on Friday, December 20th. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Morgan Stanley lowered Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Stock Performance

NYSE SU opened at $35.26 on Thursday. Suncor Energy has a 12-month low of $31.03 and a 12-month high of $41.94. The company has a market cap of $44.36 billion, a P/E ratio of 7.68, a PEG ratio of 2.43 and a beta of 1.11. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. The company has a fifty day simple moving average of $38.29 and a 200 day simple moving average of $38.48.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd were paid a $0.4089 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 4.64%. Suncor Energy’s dividend payout ratio (DPR) is presently 36.60%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cullen Investment Group LTD. lifted its position in shares of Suncor Energy by 0.8% in the 3rd quarter. Cullen Investment Group LTD. now owns 33,106 shares of the oil and gas producer’s stock worth $1,222,000 after purchasing an additional 262 shares during the period. Richardson Financial Services Inc. grew its holdings in shares of Suncor Energy by 82.8% during the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 328 shares during the period. Coldstream Capital Management Inc. raised its position in shares of Suncor Energy by 5.0% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,486 shares of the oil and gas producer’s stock worth $276,000 after acquiring an additional 354 shares in the last quarter. X Square Capital LLC lifted its stake in shares of Suncor Energy by 0.5% in the 2nd quarter. X Square Capital LLC now owns 79,664 shares of the oil and gas producer’s stock valued at $3,035,000 after purchasing an additional 388 shares during the period. Finally, Signaturefd LLC boosted its position in shares of Suncor Energy by 1.5% during the second quarter. Signaturefd LLC now owns 26,530 shares of the oil and gas producer’s stock valued at $1,011,000 after purchasing an additional 402 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.