NEW YORK (TheStreet) -- Suncor Energy (SU) - Get Report stock is up 5.06% to $28.03 on heavy trading volume after the company released earnings results that surpassed estimates for the 2015 second quarter after Wednesday's market close.
The company posted earnings of 63 Canadian cents per share on revenue of C$8.14 billion for the quarter ended June 30.
The company was expected to report earnings of 42 Canadian cents per share on revenue of C$7.63 billion, according to analysts surveyed by Thomson Reuters.
The company's production rose to 559,900 barrels of oil equivalent a day in the second quarter of 2015, compared with 518,500 barrels of oil equivalent a day in the same quarter last year, driven by the Oil Sands business.
Production at the Oil Sands division increased by 45,000 barrels a day to 423,800 barrels per day in the second quarter of 2015, compared with the 2014 second quarter.
Last year, Suncor Energy reported earnings of 14 Canadian cents per share on revenue of C$10.65 billion for the second quarter.
Separately, TheStreet Ratings team rates SUNCOR ENERGY INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate SUNCOR ENERGY INC (SU) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. Among the primary strengths of the company is its solid financial position based on a variety of debt and liquidity measures that we have evaluated. At the same time, however, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and deteriorating net income."
You can view the full analysis from the report here: SU Ratings Report