Credit Suisse Group Raises Suncor Energy (NYSE:SU) Price Target to C$58.00

Suncor Energy (NYSE:SUGet Rating) (TSE:SU) had its price target increased by Credit Suisse Group from C$50.00 to C$58.00 in a research report issued on Friday, The Fly reports.

A number of other analysts also recently weighed in on SU. BMO Capital Markets upped their target price on Suncor Energy from C$48.00 to C$54.00 in a research report on Wednesday, May 11th. CIBC boosted their price target on Suncor Energy from C$50.00 to C$60.00 in a report on Thursday, April 14th. The Goldman Sachs Group boosted their price target on Suncor Energy from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, May 20th. National Bank Financial boosted their price target on Suncor Energy from C$52.00 to C$54.00 in a report on Thursday, April 14th. Finally, Tudor, Pickering, Holt & Co. cut Suncor Energy from a “buy” rating to a “hold” rating in a report on Friday, February 4th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Suncor Energy presently has an average rating of “Buy” and an average target price of $46.73.

Shares of NYSE:SU traded up $0.93 during trading on Friday, reaching $40.51. 138,539 shares of the company traded hands, compared to its average volume of 8,352,383. The company’s 50 day moving average is $34.69 and its two-hundred day moving average is $29.89. The firm has a market capitalization of $57.32 billion, a PE ratio of 11.85, a PEG ratio of 0.54 and a beta of 1.35. The company has a quick ratio of 0.75, a current ratio of 1.18 and a debt-to-equity ratio of 0.36. Suncor Energy has a 52 week low of $17.10 and a 52 week high of $39.93.

Suncor Energy (NYSE:SUGet Rating) (TSE:SU) last released its earnings results on Monday, May 9th. The oil and gas producer reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.21. The firm had revenue of $10.65 billion during the quarter, compared to the consensus estimate of $9.18 billion. Suncor Energy had a return on equity of 15.69% and a net margin of 14.18%. As a group, research analysts anticipate that Suncor Energy will post 5.13 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC lifted its stake in shares of Suncor Energy by 2.9% in the 1st quarter. Neuberger Berman Group LLC now owns 414,851 shares of the oil and gas producer’s stock valued at $13,692,000 after acquiring an additional 11,612 shares during the last quarter. Capital International Sarl bought a new position in Suncor Energy during the 1st quarter valued at approximately $2,025,000. Capital International Investors raised its position in Suncor Energy by 20.2% during the 1st quarter. Capital International Investors now owns 12,075,966 shares of the oil and gas producer’s stock valued at $393,146,000 after purchasing an additional 2,027,620 shares during the last quarter. Capital Group Private Client Services Inc. bought a new position in Suncor Energy during the 1st quarter valued at approximately $12,820,000. Finally, Advisors Asset Management Inc. raised its position in Suncor Energy by 114.9% during the 1st quarter. Advisors Asset Management Inc. now owns 29,341 shares of the oil and gas producer’s stock valued at $956,000 after purchasing an additional 15,686 shares during the last quarter. 58.48% of the stock is owned by institutional investors.

Suncor Energy Company Profile (Get Rating)

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, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.

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