Suncor Energy ‘s (SU) Buy Rating Reaffirmed at Canaccord Genuity

Canaccord Genuity reaffirmed their buy rating on shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in a research note released on Monday. Canaccord Genuity currently has a $51.00 price target on the oil and gas producer’s stock.

A number of other research analysts also recently issued reports on SU. National Bank Financial initiated coverage on Suncor Energy in a research note on Tuesday, June 27th. They issued an outperform rating on the stock. Piper Jaffray Companies dropped their price objective on Suncor Energy from $40.00 to $38.00 and set an overweight rating on the stock in a research note on Monday, July 3rd. Zacks Investment Research raised Suncor Energy from a sell rating to a buy rating and set a $33.00 price objective on the stock in a research note on Tuesday, July 4th. Barclays PLC reissued an overweight rating and issued a $52.00 price objective (up from $47.00) on shares of Suncor Energy in a research note on Wednesday, July 12th. Finally, BidaskClub raised Suncor Energy from a strong sell rating to a sell rating in a research note on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Suncor Energy has an average rating of Buy and a consensus price target of $43.94.

Shares of Suncor Energy (NYSE SU) opened at 33.63 on Monday. Suncor Energy has a 52-week low of $27.96 and a 52-week high of $35.18. The stock’s 50 day moving average price is $33.67 and its 200-day moving average price is $31.56. The firm has a market cap of $55.80 billion, a price-to-earnings ratio of 25.29 and a beta of 0.83.

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The company also recently declared a quarterly dividend, which was paid on Monday, September 25th. Investors of record on Tuesday, September 5th were paid a dividend of $0.2552 per share. This is an increase from Suncor Energy ‘s previous quarterly dividend of $0.24. This represents a $1.02 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Thursday, August 31st. Suncor Energy ‘s dividend payout ratio is 84.43%.

Hedge funds have recently bought and sold shares of the stock. First Personal Financial Services raised its stake in Suncor Energy by 144.1% during the 2nd quarter. First Personal Financial Services now owns 3,845 shares of the oil and gas producer’s stock worth $112,000 after buying an additional 2,270 shares during the period. UBS Asset Management Americas Inc. raised its stake in Suncor Energy by 13.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,658 shares of the oil and gas producer’s stock worth $136,000 after buying an additional 562 shares during the period. Quadrant Capital Group LLC raised its stake in Suncor Energy by 90.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 4,725 shares of the oil and gas producer’s stock worth $124,000 after buying an additional 2,248 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in Suncor Energy by 680.3% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 5,735 shares of the oil and gas producer’s stock worth $167,000 after buying an additional 5,000 shares during the period. Finally, Archford Capital Strategies LLC rais

A number of other research analysts also recently issued reports on SU. National Bank Financial initiated coverage on Suncor Energy in a research note on Tuesday, June 27th. They issued an outperform rating on the stock. Piper Jaffray Companies dropped their price objective on Suncor Energy from $40.00 to $38.00 and set an overweight rating on the stock in a research note on Monday, July 3rd. Zacks Investment Research raised Suncor Energy from a sell rating to a buy rating and set a $33.00 price objective on the stock in a research note on Tuesday, July 4th. Barclays PLC reissued an overweight rating and issued a $52.00 price objective (up from $47.00) on shares of Suncor Energy in a research note on Wednesday, July 12th. Finally, BidaskClub raised Suncor Energy from a strong sell rating to a sell rating in a research note on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Suncor Energy has an average rating of Buy and a consensus price target of $43.94.

Shares of Suncor Energy (NYSE SU) opened at 33.63 on Monday. Suncor Energy has a 52-week low of $27.96 and a 52-week high of $35.18. The stock’s 50 day moving average price is $33.67 and its 200-day moving average price is $31.56. The firm has a market cap of $55.80 billion, a price-to-earnings ratio of 25.29 and a beta of 0.83.

TRADEMARK VIOLATION NOTICE: This piece of content was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States and international copyright law. The correct version of this piece of content can be read at https://ledgergazette.com/2017/10/17/suncor-energy-s-su-buy-rating-reaffirmed-at-canaccord-genuity.html.

The company also recently declared a quarterly dividend, which was paid on Monday, September 25th. Investors of record on Tuesday, September 5th were paid a dividend of $0.2552 per share. This is an increase from Suncor Energy ‘s previous quarterly dividend of $0.24. This represents a $1.02 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Thursday, August 31st. Suncor Energy ‘s dividend payout ratio is 84.43%.

Hedge funds have recently bought and sold shares of the stock. First Personal Financial Services raised its stake in Suncor Energy by 144.1% during the 2nd quarter. First Personal Financial Services now owns 3,845 shares of the oil and gas producer’s stock worth $112,000 after buying an additional 2,270 shares during the period. UBS Asset Management Americas Inc. raised its stake in Suncor Energy by 13.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,658 shares of the oil and gas producer’s stock worth $136,000 after buying an additional 562 shares during the period. Quadrant Capital Group LLC raised its stake in Suncor Energy by 90.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 4,725 shares of the oil and gas producer’s stock worth $124,000 after buying an additional 2,248 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in Suncor Energy by 680.3% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 5,735 shares of the oil and gas producer’s stock worth $167,000 after buying an additional 5,000 shares during the period. Finally, Archford Capital Strategies LLC raised its stake in Suncor Energy by 546.3% during the 2nd quarter. Archford Capital Strategies LLC now owns 6,360 shares of the oil and gas producer’s stock worth $344,000 after buying an additional 5,376 shares during the period. 64.00% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Company Profile

Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.

Analyst Recommendations for Suncor Energy  (NYSE:SU)

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