FY2023 EPS Estimates for Suncor Energy Inc. Decreased by Jefferies Financial Group (NYSE:SU)

Suncor Energy Inc. (NYSE:SUGet Rating) (TSE:SU) – Jefferies Financial Group cut their FY2023 earnings per share estimates for shares of Suncor Energy in a report issued on Tuesday, January 17th. Jefferies Financial Group analyst L. Byrne now anticipates that the oil and gas producer will earn $4.26 per share for the year, down from their prior forecast of $5.12. Jefferies Financial Group has a “Hold” rating on the stock. The consensus estimate for Suncor Energy’s current full-year earnings is $5.73 per share.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company cut Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Tuesday, January 10th. Credit Suisse Group lowered their price target on Suncor Energy from C$63.00 to C$60.00 in a report on Monday, November 21st. BMO Capital Markets reduced their price objective on shares of Suncor Energy from C$58.00 to C$55.00 in a research note on Wednesday, November 30th. Royal Bank of Canada cut their target price on Suncor Energy from C$55.00 to C$54.00 in a research report on Wednesday, November 30th. Finally, Raymond James upped their price target on shares of Suncor Energy from C$50.00 to C$53.00 in a report on Tuesday, November 8th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Suncor Energy currently has an average rating of “Hold” and a consensus target price of $51.33.

Suncor Energy Stock Down 0.3 %

SU stock opened at $33.03 on Friday. The business has a 50 day moving average of $32.28 and a 200 day moving average of $32.17. The company has a quick ratio of 0.91, a current ratio of 1.26 and a debt-to-equity ratio of 0.35. Suncor Energy has a twelve month low of $25.27 and a twelve month high of $42.72. The firm has a market cap of $44.18 billion, a PE ratio of 7.58, a price-to-earnings-growth ratio of 0.56 and a beta of 1.25.

Suncor Energy (NYSE:SUGet Rating) (TSE:SU) last posted its quarterly earnings data on Wednesday, November 2nd. The oil and gas producer reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.04. Suncor Energy had a return on equity of 27.23% and a net margin of 14.23%. The firm had revenue of $11.54 billion during the quarter, compared to analysts’ expectations of $9.74 billion.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Schechter Investment Advisors LLC boosted its stake in Suncor Energy by 1.3% during the third quarter. Schechter Investment Advisors LLC now owns 24,716 shares of the oil and gas producer’s stock worth $696,000 after buying an additional 327 shares in the last quarter. CWM LLC grew its position in shares of Suncor Energy by 27.5% in the 2nd quarter. CWM LLC now owns 1,564 shares of the oil and gas producer’s stock valued at $55,000 after purchasing an additional 337 shares during the period. Checchi Capital Advisers LLC boosted its position in Suncor Energy by 5.1% during the 3rd quarter. Checchi Capital Advisers LLC now owns 7,106 shares of the oil and gas producer’s stock worth $200,000 after acquiring an additional 345 shares during the last quarter. Delta Investment Management LLC boosted its holdings in shares of Suncor Energy by 2.0% in the 2nd quarter. Delta Investment Management LLC now owns 17,566 shares of the oil and gas producer’s stock valued at $616,000 after buying an additional 348 shares during the last quarter. Finally, Hexagon Capital Partners LLC raised its stake in Suncor Energy by 22.6% in the 3rd quarter. Hexagon Capital Partners LLC now owns 2,127 shares of the oil and gas producer’s stock valued at $60,000 after acquiring an additional 392 shares during the period. 58.04% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 23rd. Shareholders of record on Friday, December 2nd were paid a dividend of $0.3911 per share. This is a boost from Suncor Energy’s previous quarterly dividend of $0.37. The ex-dividend date was Thursday, December 1st. This represents a $1.56 annualized dividend and a yield of 4.74%. Suncor Energy’s dividend payout ratio (DPR) is presently 35.55%.

About Suncor Energy

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Suncor Energy, Inc is an integrated energy company, which develops petroleum resource basins. Its activities include oil sands development, and upgrading, onshore and offshore oil and gas production, petroleum refining, and product marketing. The company operates through the following business segments: Oil Sands; Exploration and Production; and Refining and Marketing.

See Also

Earnings History and Estimates for Suncor Energy (NYSE:SU)

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