Asset Dedication LLC purchased a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,385 shares of the oil and gas producer’s stock, valued at approximately $104,000.
A number of other hedge funds have also recently bought and sold shares of SU. Sanders Capital LLC grew its position in Suncor Energy by 25.1% during the first quarter. Sanders Capital LLC now owns 24,516,616 shares of the oil and gas producer’s stock valued at $834,328,000 after acquiring an additional 4,914,700 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in Suncor Energy during the first quarter valued at about $170,379,000. Lazard Asset Management LLC grew its position in Suncor Energy by 328.2% during the first quarter. Lazard Asset Management LLC now owns 3,849,360 shares of the oil and gas producer’s stock valued at $124,834,000 after acquiring an additional 2,950,451 shares during the period. FIL Ltd grew its position in Suncor Energy by 4.4% during the first quarter. FIL Ltd now owns 44,367,061 shares of the oil and gas producer’s stock valued at $1,437,901,000 after acquiring an additional 1,862,871 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in Suncor Energy by 14.7% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,822,600 shares of the oil and gas producer’s stock valued at $448,113,000 after acquiring an additional 1,772,600 shares during the period. 63.38% of the stock is owned by hedge funds and other institutional investors.
Shares of SU traded down $0.50 during midday trading on Friday, reaching $27.87. 2,084,484 shares of the company were exchanged, compared to its average volume of 4,404,699. The stock has a 50-day moving average price of $29.77 and a 200-day moving average price of $31.83. The company has a market cap of $44.13 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 1.57 and a beta of 1.08. Suncor Energy Inc. has a 1-year low of $25.81 and a 1-year high of $42.16. The company has a current ratio of 0.98, a quick ratio of 0.63 and a debt-to-equity ratio of 0.34.Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Wednesday, July 24th. The oil and gas producer reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.09). Suncor Energy had a return on equity of 10.20% and a net margin of 14.55%. The company had revenue of $7.55 billion for the quarter, compared to analyst estimates of $8.15 billion. Equities research analysts anticipate that Suncor Energy Inc. will post 2.44 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be paid a $0.321 dividend. This is a boost from Suncor Energy’s previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, September 3rd. This represents a $1.28 annualized dividend and a dividend yield of 4.61%. Suncor Energy’s payout ratio is 62.00%.
A number of equities research analysts have issued reports on SU shares. ValuEngine downgraded Suncor Energy from a “hold” rating to a “sell” rating in a research report on Saturday, July 6th. Zacks Investment Research raised Suncor Energy from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Monday, May 13th. Raymond James reissued a “buy” rating on shares of Suncor Energy in a research report on Thursday, May 2nd. GMP Securities reissued a “hold” rating and set a $48.00 price target on shares of Suncor Energy in a research report on Tuesday, May 7th. Finally, BMO Capital Markets restated a “buy” rating on shares of Suncor Energy in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $47.48.
Suncor Energy Profile
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada’s Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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