Alyeska Investment Group L.P. Buys 614,132 Shares of Suncor Energy Inc. $SU

Key Points

• Alyeska Investment Group increased its Suncor Energy position by 30.7%, buying 614,132 additional shares to reach 2.62 million shares valued at approximately $140.5 million. Institutional investors collectively own 67.37% of the company.
• Suncor reported quarterly EPS of $2.33, exceeding estimates of $2.14, while revenue reached $13.41 billion versus the $11.68 billion consensus forecast.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an $80.25 price target. Suncor also declared a quarterly dividend of $0.60 per share, representing a 3.7% annualized yield.

Alyeska Investment Group L.P. increased its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 30.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,617,674 shares of the oil and gas producer's stock after purchasing an additional 614,132 shares during the period. Alyeska Investment Group L.P. owned approximately 0.22% of Suncor Energy worth $140,517,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Versant Capital Management Inc lifted its stake in shares of Suncor Energy by 418.9% during the 2nd quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer's stock worth $26,000 after purchasing an additional 398 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Suncor Energy in the 2nd quarter valued at $31,000. 1 North Wealth Services LLC purchased a new position in Suncor Energy during the fourth quarter valued at $32,000. Accent Capital Management LLC lifted its stake in Suncor Energy by 37.5% in the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer's stock valued at $37,000 after buying an additional 225 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new stake in Suncor Energy during the 4th quarter worth $44,000. Hedge funds and other institutional investors own 67.37% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SU. Scotiabank raised shares of Suncor Energy to a "strong-buy" rating in a report on Friday, June 26th. Desjardins raised shares of Suncor Energy to a "moderate buy" rating in a research note on Thursday, July 16th. Wall Street Zen cut shares of Suncor Energy from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 1st. Morgan Stanley set a $106.00 price objective on shares of Suncor Energy in a report on Wednesday, August 19th. Finally, The Goldman Sachs Group cut shares of Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 price target for the company. in a research report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $80.25.

Suncor Energy Price Performance

Shares of NYSE SU opened at $65.50 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. Suncor Energy Inc. has a twelve month low of $37.76 and a twelve month high of $70.29. The stock has a 50 day moving average of $61.93 and a two-hundred day moving average of $62.06. The stock has a market cap of $77.34 billion, a P/E ratio of 12.06, a P/E/G ratio of 0.47 and a beta of 0.30.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.14 by $0.19. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. The business had revenue of $13.41 billion for the quarter, compared to analyst estimates of $11.68 billion. During the same period last year, the firm posted $0.71 earnings per share. On average, research analysts forecast that Suncor Energy Inc. will post 7.39 earnings per share for the current year.

Suncor Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.40 annualized dividend and a yield of 3.7%. Suncor Energy's dividend payout ratio is currently 32.04%.

About Suncor Energy

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.

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