Bank of America Initiates Coverage on Suncor Energy (USA) to Buy

Bank of America Initiates Coverage on Suncor Energy (USA)(NYSE:SU). The shares have been rated Buy. The rating by Bank of America was issued on Aug 19, 2016.

In a different note, On Jun 23, 2016, Citigroup said it Upgrades its rating on Suncor Energy (USA). The shares have been rated ‘Buy’ by the firm. On Jun 22, 2016, TD Securities said it Upgrades its rating on Suncor Energy (USA). The shares have been rated ‘Buy’ by the firm.

Suncor Energy (USA) (SU) shares turned negative on Mondays trading session with the shares closing down -0.32 points or -1.14% at a volume of 41,94,849. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $28.18. The peak price level was also seen at $28.18 while the days lowest was $27.6839. Finally the shares closed at $27.76. The 52-week high of the shares is $30.7 while the 52-week low is $18.71. According to the latest information available, the market cap of the company is $46,203 M.

Suncor Energy (USA)(SU) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $5.86B. Analysts had an estimated revenue of $5.84B. Earnings per share were $-0.46. Analysts had estimated an EPS of $-0.27.

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 and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations. Its Exploration and Production segment consists of offshore operations off the east coast of Canada and in the North Sea and onshore assets in North America Libya and Syria. The Company’s Refining and Marketing segment is engaged in Refining and Supply and Downstream Marketing. In addition the Company explores for acquires develops produces and markets crude oil and natural gas in Canada and internationally. The Company also transports and refines crude oil and markets petroleum and petrochemical products primarily in Canada.

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