Arrowpoint Investment Partners Singapore Pte. Ltd. raised its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 318.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,300 shares of the oil and gas producer's stock after purchasing an additional 16,973 shares during the period. Arrowpoint Investment Partners Singapore Pte. Ltd.'s holdings in Suncor Energy were worth $863,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of SU. Principal Financial Group Inc. increased its stake in Suncor Energy by 65.0% during the 1st quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer's stock valued at $620,136,000 after buying an additional 6,311,513 shares during the period. Inscription Capital LLC acquired a new position in Suncor Energy during the 1st quarter valued at about $247,000. Vident Advisory LLC increased its stake in Suncor Energy by 967.9% during the 4th quarter. Vident Advisory LLC now owns 519,112 shares of the oil and gas producer's stock valued at $18,522,000 after buying an additional 470,500 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Suncor Energy by 13.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,492,472 shares of the oil and gas producer's stock worth $135,228,000 after purchasing an additional 409,032 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Suncor Energy by 14.2% in the 4th quarter. Ameriprise Financial Inc. now owns 623,306 shares of the oil and gas producer's stock worth $22,884,000 after purchasing an additional 77,556 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.
Suncor Energy Price Performance
Shares of SU traded up $0.09 during mid-day trading on Wednesday, hitting $38.93. The company's stock had a trading volume of 2,016,735 shares, compared to its average volume of 3,286,868. The firm has a 50-day moving average price of $38.97 and a 200 day moving average price of $37.37. The stock has a market capitalization of $47.41 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 3.35 and a beta of 0.84. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $41.94.
Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. The business had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $11.56 billion. During the same period last year, the firm posted $1.27 earnings per share. On average, research analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.
Suncor Energy Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a $0.4135 dividend. This is a boost from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date is Thursday, September 4th. This represents a $1.65 annualized dividend and a dividend yield of 4.2%. Suncor Energy's payout ratio is currently 51.08%.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen cut shares of Suncor Energy from a "buy" rating to a "hold" rating in a research note on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $66.00.
Check Out Our Latest Stock Analysis on SU
About Suncor Energy
(
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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