BTG Pactual Asset Management US LLC Acquires 54,036 Shares of Suncor Energy Inc. $SU

Key Points

• BTG Pactual Asset Management US LLC increased its Suncor Energy stake by 248.6% in the second quarter, acquiring 54,036 additional shares and bringing its holdings to 75,773 shares worth approximately $4.1 million. Institutional investors collectively own 67.37% of Suncor.
• Suncor reported quarterly earnings of $2.33 per share, beating estimates of $2.14, while revenue reached $13.41 billion versus expectations of $11.68 billion. Analysts maintain a “Moderate Buy” consensus rating with an $80.25 average price target.
• The company declared a quarterly dividend of $0.60 per share, equivalent to $2.40 annually and a 3.7% yield, payable September 25 to shareholders of record as of September 4.

BTG Pactual Asset Management US LLC raised its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 248.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,773 shares of the oil and gas producer's stock after acquiring an additional 54,036 shares during the period. BTG Pactual Asset Management US LLC's holdings in Suncor Energy were worth $4,067,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake in shares of Suncor Energy by 418.9% in the 2nd quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer's stock valued at $26,000 after purchasing an additional 398 shares in the last quarter. Headlands Technologies LLC acquired a new position in Suncor Energy during the 2nd quarter worth approximately $31,000. 1 North Wealth Services LLC bought a new position in Suncor Energy in the 4th quarter valued at approximately $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 purchasing an additional 225 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new stake in Suncor Energy in the fourth quarter valued at approximately $44,000. Institutional investors own 67.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SU shares. Scotiabank raised shares of Suncor Energy to a "strong-buy" rating in a research note on Friday, June 26th. Zacks Research lowered Suncor Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Weiss Ratings raised Suncor Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 29th. The Goldman Sachs Group downgraded Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 target price for the company. in a research report on Friday, June 5th. Finally, Desjardins raised Suncor Energy to a "moderate buy" rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $80.25.

Suncor Energy Trading Up 0.1%

Shares of NYSE SU opened at $65.50 on Monday. The firm has a 50 day moving average price of $61.93 and a two-hundred day moving average price of $62.11. The stock has a market cap of $77.34 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 0.47 and a beta of 0.29. Suncor Energy Inc. has a 52-week low of $37.76 and a 52-week high of $70.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.65.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 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 company had revenue of $13.41 billion for the quarter, compared to analyst estimates of $11.68 billion. During the same quarter in the previous year, the business earned $0.71 earnings per share. As a group, equities analysts forecast that Suncor Energy Inc. will post 7.39 EPS for the current year.

Suncor Energy Dividend Announcement

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