Chesapeake Capital Corp IL Takes Position in Suncor Energy Inc. $SU

Key Points

• Chesapeake Capital Corp IL bought a new stake in Suncor Energy of 22,538 shares valued at about $942,000 during the third quarter.
• Suncor announced a quarterly dividend of $0.60 (annualized $2.40) with an ex-dividend date of March 4 and a yield of about 4.0%, payable March 25.
• Analyst coverage is mixed but positive on average: the stock has a consensus rating of "Moderate Buy" with a consensus price target of $63.67, and recent notable actions include JPMorgan upgrading to overweight and Goldman Sachs raising its target to $62.00.

Chesapeake Capital Corp IL bought a new stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,538 shares of the oil and gas producer's stock, valued at approximately $942,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Dodge & Cox boosted its holdings in Suncor Energy by 0.3% during the third quarter. Dodge & Cox now owns 27,471,954 shares of the oil and gas producer's stock valued at $1,148,602,000 after purchasing an additional 70,300 shares in the last quarter. Family Management Corp bought a new position in shares of Suncor Energy during the 3rd quarter worth approximately $216,000. BTG Pactual Asset Management US LLC bought a new position in shares of Suncor Energy during the 3rd quarter worth approximately $1,664,000. Entropy Technologies LP boosted its stake in Suncor Energy by 101.8% in the 3rd quarter. Entropy Technologies LP now owns 98,880 shares of the oil and gas producer's stock valued at $4,134,000 after buying an additional 49,877 shares in the last quarter. Finally, HITE Hedge Asset Management LLC acquired a new stake in Suncor Energy in the 3rd quarter valued at $16,345,000. Institutional investors and hedge funds own 67.37% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wall Street Zen cut Suncor Energy from a "buy" rating to a "hold" rating in a report on Sunday, December 28th. JPMorgan Chase & Co. raised shares of Suncor Energy from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $46.15 to $54.00 in a report on Tuesday, January 20th. The Goldman Sachs Group increased their target price on shares of Suncor Energy from $55.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday. Zacks Research downgraded shares of Suncor Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 20th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Suncor Energy in a research report on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $63.67.

Suncor Energy Trading Down 0.2%

SU stock opened at $59.66 on Friday. The business has a fifty day moving average price of $53.28 and a 200 day moving average price of $46.04. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 0.89. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $60.13. The stock has a market capitalization of $70.99 billion, a price-to-earnings ratio of 17.19 and a beta of 0.43.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 EPS for the quarter, topping the consensus estimate of $0.77 by $0.02. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.The company had revenue of $8.77 billion for the quarter, compared to analysts' expectations of $8.79 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. Analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.0%. The ex-dividend date is Wednesday, March 4th. Suncor Energy's dividend payout ratio (DPR) is presently 50.72%.

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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