Sunday, June 26, 2022

Taking a Closer Look At Suncor Energy Inc. (SU) Following Its Recent Trade

RBC Capital Mkts upgraded its Suncor Energy Inc. [SU] rating to an Outperform from a a Sector perform in a research note published on Tuesday. A number of analysts have revised their coverage, including RBC Capital Mkts’s analysts, who decreased its forecast for the stock in mid February from “an Outperform” to “a Sector perform”. Tudor Pickering Holt & Co. also remained covering SU and has decreased its forecast on February 04, 2022 with a “Hold” recommendation from previously “Buy” rating. JP Morgan revised its rating on February 04, 2022. It rated SU as “a Neutral” which previously was an “an Overweight”.


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Price Performance Review of SU

On Tuesday, Suncor Energy Inc. [NYSE:SU] saw its stock jump 8.54% to $37.25. On the same session, the stock had its day’s lowest price of $36.69, but rose to a high of $37.6113. Over the last five days, the stock has lost -5.86%. Suncor Energy Inc. shares have risen nearly 48.82% since the year began. Nevertheless, the stocks have risen 51.98% over the past one year. While a 52-week high of $42.72 was reached on 06/08/22, a 52-week low of $17.10 was recorded on 01/03/22. SMA at 50 days reached $36.96, while 200 days put it at $28.90. A total of 9.21 million shares were traded, compared to the trading of 10.27 million shares in the previous session.

Levels Of Support And Resistance For SU Stock

The 24-hour chart illustrates a support level at 36.76, which if violated will result in even more drops to 36.26. On the upside, there is a resistance level at 37.68. A further resistance level may holdings at 38.11. The Relative Strength Index (RSI) on the 14-day chart is 45.34, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.66, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 61.72%. Stochastics %K at 16.22% indicates the stock is a buying.

Suncor Energy Inc. [SU] – Who Are The Largest Shareholders?

In filings from RBC Global Asset Management, Inc., it is revealed that the company now owns 44,903,341 shares, or roughly 3.18% of the outstanding SU shares. In other words, the investor’s shares have fallen by -4,763,252 from its previous 13-F filing of 49666593.0. Additionally, Dodge & Cox decreased -23.50% of its stake after which the total value it holdings stand at $1,702,184,739, while 1832 Asset Management LP reduced -13.18% of its stake to hold $1.69 billion in the firm. Over the last quarter, Fidelity Management & Research Co purchased 8,085,221 shares of Suncor Energy Inc., while TD Asset Management, Inc. bought -7,498,804 shares. At present, Sanders Capital LLC is holding 33,156,891 shares valued at $1.34 billion. The Vanguard Group, Inc. owned 32,769,741 shares of the company at the time of its most recent 13F filing, worth $1.32 billion.

According to FactSet, Suncor Energy Inc.’s share price will average $43.65 in the next year, based on opinions of analysts polled by the firm. This is up nearly 29.66 percent from its previous closing price of $34.32. Analysts expect Suncor Energy Inc. stock to reach the higher price of $51.80, while the lowest price estimate is $31.99. However, 20 analysts have rated SU stock as an Overweight in their predictions for 2022.

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