Pacific Point Advisors LLC purchased a new stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,235 shares of the oil and gas producer's stock, valued at approximately $276,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Covestor Ltd lifted its position in Suncor Energy by 30.5% during the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock worth $39,000 after buying an additional 256 shares in the last quarter. Principal Securities Inc. raised its holdings in Suncor Energy by 2.2% during the fourth quarter. Principal Securities Inc. now owns 12,423 shares of the oil and gas producer's stock worth $443,000 after acquiring an additional 265 shares in the last quarter. Stifel Financial Corp raised its holdings in Suncor Energy by 0.3% during the fourth quarter. Stifel Financial Corp now owns 95,508 shares of the oil and gas producer's stock worth $3,408,000 after acquiring an additional 265 shares in the last quarter. X Square Capital LLC raised its position in Suncor Energy by 0.3% during the fourth quarter. X Square Capital LLC now owns 82,720 shares of the oil and gas producer's stock worth $2,951,000 after acquiring an additional 267 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in Suncor Energy by 27.5% in the 4th quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer's stock valued at $50,000 after purchasing an additional 300 shares during the last quarter. 67.37% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
SU has been the topic of several recent research reports. Bank of America started coverage on shares of Suncor Energy in a report on Wednesday, February 26th. They set a "neutral" rating on the stock. Scotiabank upgraded Suncor Energy to a "hold" rating in a report on Wednesday, March 19th. Cibc World Mkts raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 11th. Tudor Pickering raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, February 10th. Finally, Wall Street Zen downgraded Suncor Energy from a "buy" rating to a "hold" rating in a research report on Thursday, April 17th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Suncor Energy presently has a consensus rating of "Moderate Buy" and an average price target of $64.67.
Check Out Our Latest Research Report on Suncor Energy
Suncor Energy Price Performance
Suncor Energy stock traded up $0.00 during midday trading on Wednesday, hitting $35.72. 891,769 shares of the company's stock were exchanged, compared to its average volume of 4,466,668. The company has a market cap of $44.05 billion, a P/E ratio of 10.36, a PEG ratio of 2.94 and a beta of 0.79. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The stock has a 50-day moving average price of $35.47 and a two-hundred day moving average price of $37.18. Suncor Energy Inc. has a 52-week low of $30.79 and a 52-week high of $41.95.
Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. The business had revenue of $9.10 billion for the quarter, compared to the consensus estimate of $13.39 billion. During the same period last year, the firm posted $1.41 earnings per share. On average, equities research analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current year.
Suncor Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th will be paid a dividend of $0.4133 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date is Wednesday, June 4th. This is a positive change from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's dividend payout ratio is 45.53%.
Suncor Energy Company Profile
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Free Report)
Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.
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