Beverly Hills Private Wealth LLC Makes New $3.10 Million Investment in Suncor Energy Inc. $SU

Key Points

• Beverly Hills Private Wealth LLC initiated a roughly $3.10 million position in Suncor Energy during the second quarter by purchasing 57,772 shares. Institutional investors collectively own 67.37% of the company.
• Suncor reported quarterly earnings of $2.33 per share, beating the $2.14 consensus estimate, while revenue reached $13.41 billion versus expectations of $11.68 billion.
• The company declared a quarterly dividend of $0.60 per share, equivalent to $2.40 annually and a 3.6% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $71.67.

Beverly Hills Private Wealth LLC purchased a new position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 57,772 shares of the oil and gas producer's stock, valued at approximately $3,101,000.

Several other hedge funds also recently modified their holdings of the business. Avise Financial Cooperative Inc. acquired a new stake in shares of Suncor Energy in the second quarter worth $375,000. Cura Wealth Advisors LLC bought a new position in Suncor Energy during the second quarter worth $344,000. Old West Investment Management LLC acquired a new position in Suncor Energy during the 2nd quarter valued at $22,454,000. Flputnam Investment Management Co. acquired a new position in Suncor Energy during the 2nd quarter valued at $11,610,000. Finally, Global Retirement Partners LLC bought a new stake in Suncor Energy in the 2nd quarter valued at $255,000. 67.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SU has been the topic of several research analyst reports. Weiss Ratings upgraded shares of Suncor Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, July 29th. Desjardins raised shares of Suncor Energy to a "moderate buy" rating in a research report on Thursday, July 16th. Zacks Research cut shares of Suncor Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. Scotiabank raised Suncor Energy to a "strong-buy" rating in a research report on Friday, June 26th. Finally, Wall Street Zen downgraded Suncor Energy from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $71.67.

Suncor Energy Stock Performance

Shares of NYSE SU opened at $65.85 on Monday. The firm has a market capitalization of $77.75 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 0.49 and a beta of 0.29. Suncor Energy Inc. has a one year low of $37.76 and a one year high of $70.29. The business has a fifty day simple moving average of $60.44 and a 200 day simple moving average of $61.15. 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 (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, topping analysts' consensus estimates of $2.14 by $0.19. The firm had revenue of $13.41 billion for the quarter, compared to the consensus estimate of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same quarter in the previous year, the company earned $0.71 earnings per share. Sell-side analysts expect that Suncor Energy Inc. will post 7.13 EPS for the current year.

Suncor Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, September 4th. Suncor Energy's dividend payout ratio (DPR) is presently 32.04%.

Suncor Energy Profile

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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