Bank of New York Mellon Corp purchased a new stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,746,712 shares of the oil and gas producer's stock, valued at approximately $147,444,000. Bank of New York Mellon Corp owned about 0.23% of Suncor Energy at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc grew its holdings in shares of Suncor Energy by 418.9% during the second quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer's stock worth $26,000 after buying an additional 398 shares in the last quarter. 1 North Wealth Services LLC bought a new position in Suncor Energy in the fourth quarter valued at $32,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Suncor Energy during the 1st quarter worth about $53,000. Headlands Technologies LLC bought a new stake in Suncor Energy during the second quarter worth about $31,000. Finally, Accent Capital Management LLC raised its holdings in Suncor Energy by 37.5% during the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer's stock worth $37,000 after acquiring an additional 225 shares in the last quarter. Institutional investors own 67.37% of the company's stock.
Analyst Ratings Changes
Several research analysts have recently weighed in on the stock. The Goldman Sachs Group lowered shares of Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 price objective on the stock. in a research note on Friday, June 5th. Weiss Ratings raised shares of Suncor Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 29th. Desjardins upgraded shares of Suncor Energy to a "moderate buy" rating in a research report on Thursday, July 16th. Wall Street Zen downgraded Suncor Energy from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. Finally, Morgan Stanley set a $106.00 price objective on Suncor Energy in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $80.25.
Check Out Our Latest Stock Report on SU
Suncor Energy Price Performance
Shares of NYSE:SU opened at $68.46 on Monday. Suncor Energy Inc. has a twelve month low of $37.76 and a twelve month high of $70.29. The stock's 50 day moving average is $61.02 and its 200-day moving average is $61.67. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $80.83 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 0.49 and a beta of 0.29.
Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.14 by $0.19. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.The business had revenue of $13.41 billion during the quarter, compared to the consensus estimate of $11.68 billion. During the same quarter in the previous year, the business earned $0.71 EPS. Sell-side analysts forecast that Suncor Energy Inc. will post 7.39 EPS for the current fiscal year.
Suncor Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a $0.60 dividend. The ex-dividend date is Friday, September 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.5%. Suncor Energy's payout ratio is presently 32.04%.
Suncor Energy Company Profile
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Free Report)
Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company's operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.
Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.
See Also
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