Caitong International Asset Management Co. Ltd Invests $257,000 in Suncor Energy Inc. $SU

Key Points

• Caitong International Asset Management Co. Ltd invested approximately $257,000 in Suncor Energy, acquiring 6,854 shares during the second quarter.
• Suncor Energy reported a $0.51 EPS for the last quarter, slightly above analysts' estimates, but its revenue fell short of expectations at $8.81 billion.
• The company recently increased its quarterly dividend to $0.4135 per share, reflecting an annualized yield of 4.2%.

Caitong International Asset Management Co. Ltd acquired a new stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,854 shares of the oil and gas producer's stock, valued at approximately $257,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Maseco LLP purchased a new position in shares of Suncor Energy during the 2nd quarter valued at $32,000. N.E.W. Advisory Services LLC purchased a new position in Suncor Energy in the first quarter valued at about $36,000. Wayfinding Financial LLC purchased a new position in Suncor Energy in the first quarter valued at about $42,000. Harbour Investments Inc. increased its position in Suncor Energy by 67.0% in the 1st quarter. Harbour Investments Inc. now owns 1,169 shares of the oil and gas producer's stock worth $45,000 after purchasing an additional 469 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Suncor Energy by 27.6% during the 2nd quarter. IFP Advisors Inc now owns 1,428 shares of the oil and gas producer's stock worth $53,000 after purchasing an additional 309 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Stock Performance

NYSE:SU opened at $39.61 on Friday. The firm has a market capitalization of $47.89 billion, a PE ratio of 12.19, a PEG ratio of 3.44 and a beta of 0.78. Suncor Energy Inc. has a 1 year low of $30.79 and a 1 year high of $43.48. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. The firm's fifty day simple moving average is $40.69 and its 200 day simple moving average is $38.36.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.01. The company had revenue of $8.81 billion during the quarter, compared to analysts' expectations of $11.56 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same period in the prior year, the company earned $1.27 earnings per share. On average, sell-side analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th were issued a $0.4135 dividend. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.65 dividend on an annualized basis and a yield of 4.2%. Suncor Energy's payout ratio is 51.08%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SU shares. Zacks Research downgraded Suncor Energy from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 15th. Wells Fargo & Company started coverage on shares of Suncor Energy in a research note on Friday, October 17th. They set an "equal weight" rating on the stock. Weiss Ratings restated a "hold (c+)" rating on shares of Suncor Energy in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $65.00 price objective on shares of Suncor Energy in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Suncor Energy presently has a consensus rating of "Moderate Buy" and an average target price of $65.00.

About Suncor Energy

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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