Bridges Investment Management Inc. lessened its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 36.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,405 shares of the oil and gas producer’s stock after selling 5,420 shares during the period. Bridges Investment Management Inc.’s holdings in Suncor Energy were worth $294,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cullen Frost Bankers Inc. purchased a new stake in shares of Suncor Energy in the 1st quarter valued at about $31,000. Cornerstone Advisors Inc. increased its position in shares of Suncor Energy by 121.7% during the 1st quarter. Cornerstone Advisors Inc. now owns 1,095 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 601 shares during the last quarter. Zions Bancorporation N.A. bought a new position in shares of Suncor Energy during the 1st quarter valued at about $38,000. Trustcore Financial Services LLC bought a new position in Suncor Energy during the 1st quarter worth approximately $39,000. Finally, Acima Private Wealth LLC grew its position in Suncor Energy by 28.3% during the 1st quarter. Acima Private Wealth LLC now owns 1,450 shares of the oil and gas producer’s stock worth $47,000 after acquiring an additional 320 shares during the last quarter. 65.34% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently issued reports on SU. Citigroup reduced their price target on Suncor Energy from $59.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. BMO Capital Markets reiterated a “buy” rating on shares of Suncor Energy in a research report on Monday, June 24th. Finally, ValuEngine upgraded Suncor Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $48.23.
Shares of SU traded down $0.27 during trading hours on Friday, hitting $30.41. The stock had a trading volume of 2,923,986 shares, compared to its average volume of 3,110,187. The stock has a fifty day moving average price of $28.81 and a 200 day moving average price of $31.43. Suncor Energy Inc. has a 12 month low of $25.81 and a 12 month high of $40.08. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.63. The firm has a market capitalization of $47.54 billion, a PE ratio of 15.21, a PEG ratio of 1.71 and a beta of 1.07.
Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Wednesday, July 24th. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.09). Suncor Energy had a net margin of 14.55% and a return on equity of 10.20%. The company had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $8.15 billion. As a group, analysts anticipate that Suncor Energy Inc. will post 2.45 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a $0.321 dividend. This represents a $1.28 annualized dividend and a dividend yield of 4.22%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, September 3rd. Suncor Energy’s payout ratio is presently 63.00%.
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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