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Jefferies Remains a Hold on Suncor Energy (SU)

Tipranks - Tipranks - Thu May 28, 7:40AM CDT

In a report released yesterday, Lloyd Byrne from Jefferies maintained a Hold rating on Suncor Energy, with a price target of C$101.00. The company’s shares closed yesterday at C$90.56.

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Byrne covers the Energy sector, focusing on stocks such as Sable Offshore, Suncor Energy, and Canadian Natural. According to TipRanks, Byrne has an average return of 22.7% and a 62.61% success rate on recommended stocks.

In addition to Jefferies, Suncor Energy also received a Hold from Scotiabank’s Kevin Fisk in a report issued on May 20. However, yesterday, RBC Capital reiterated a Buy rating on Suncor Energy (NYSE: SU).

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Based on Suncor Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$15.42 billion and a net profit of C$2.1 billion. In comparison, last year the company earned a revenue of C$12.32 billion and had a net profit of C$1.69 billion

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SU in relation to earlier this year.

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