Equities Analysts Set Expectations for Suncor Energy Inc.’s Q4 2022 Earnings (NYSE:SU)

Suncor Energy Inc. (NYSE:SUGet Rating) (TSE:SU) – Analysts at Jefferies Financial Group reduced their Q4 2022 earnings per share estimates for Suncor Energy in a report released on Monday, January 23rd. Jefferies Financial Group analyst L. Byrne now expects that the oil and gas producer will earn $1.27 per share for the quarter, down from their prior forecast of $1.35. Jefferies Financial Group has a “Hold” rating on the stock. The consensus estimate for Suncor Energy’s current full-year earnings is $5.66 per share. Jefferies Financial Group also issued estimates for Suncor Energy’s FY2023 earnings at $4.13 EPS.

A number of other brokerages also recently weighed in on SU. BMO Capital Markets decreased their price target on Suncor Energy from C$58.00 to C$55.00 in a report on Wednesday, November 30th. Royal Bank of Canada decreased their price target on Suncor Energy from C$55.00 to C$54.00 in a report on Wednesday, November 30th. Raymond James raised their target price on Suncor Energy from C$50.00 to C$53.00 in a research note on Tuesday, November 8th. Credit Suisse Group reduced their target price on Suncor Energy from C$63.00 to C$60.00 in a research note on Monday, November 21st. Finally, Wells Fargo & Company downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 10th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $51.33.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $33.52 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.91 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $32.16 and a two-hundred day moving average price of $32.16. Suncor Energy has a 1-year low of $25.80 and a 1-year high of $42.72. The company has a market cap of $44.84 billion, a P/E ratio of 7.69, a PEG ratio of 0.59 and a beta of 1.25.

Suncor Energy (NYSE:SUGet Rating) (TSE:SU) last issued its quarterly earnings results on Wednesday, November 2nd. The oil and gas producer reported $1.44 earnings per share 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 the consensus estimate of $9.74 billion.

Hedge Funds Weigh In On Suncor Energy

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Suncor Energy by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 48,285,003 shares of the oil and gas producer’s stock worth $1,573,608,000 after buying an additional 702,121 shares in the last quarter. FMR LLC lifted its position in shares of Suncor Energy by 8.7% during the 2nd quarter. FMR LLC now owns 40,991,768 shares of the oil and gas producer’s stock worth $1,438,150,000 after buying an additional 3,271,032 shares in the last quarter. Sanders Capital LLC lifted its position in shares of Suncor Energy by 2.6% during the 3rd quarter. Sanders Capital LLC now owns 34,070,358 shares of the oil and gas producer’s stock worth $959,081,000 after buying an additional 859,527 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Suncor Energy by 79.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 16,823,815 shares of the oil and gas producer’s stock worth $548,183,000 after buying an additional 7,438,559 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Suncor Energy by 688.5% during the 4th quarter. National Bank of Canada FI now owns 16,652,604 shares of the oil and gas producer’s stock worth $528,094,000 after buying an additional 14,540,653 shares in the last quarter. Institutional investors own 58.04% of the company’s stock.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 23rd. Investors of record on Friday, December 2nd were given a $0.3911 dividend. This is a boost from Suncor Energy’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Thursday, December 1st. This represents a $1.56 annualized dividend and a yield of 4.67%. 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.

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

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