Corient Private Wealth LP Purchases Shares of 292,446 Suncor Energy Inc. $SU

Key Points

• Corient Private Wealth LP purchased 292,446 Suncor Energy shares during the second quarter, valued at approximately $15.7 million. Institutional investors and hedge funds collectively own 67.37% of the company.
• Suncor reported quarterly EPS of $2.33, beating estimates of $2.14, while revenue reached $13.41 billion versus the $11.68 billion consensus forecast.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $80.25. Suncor also declared a quarterly dividend of $0.60 per share, representing a 3.7% annualized yield.

Corient Private Wealth LP purchased a new stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 292,446 shares of the oil and gas producer's stock, valued at approximately $15,698,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc raised its holdings in shares of Suncor Energy by 418.9% during the second quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer's stock worth $26,000 after acquiring an additional 398 shares during the period. Headlands Technologies LLC bought a new stake in Suncor Energy in the 2nd quarter valued at $31,000. 1 North Wealth Services LLC acquired a new position in Suncor Energy in the 4th quarter worth $32,000. Accent Capital Management LLC boosted 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 worth $37,000 after purchasing an additional 225 shares during the period. Finally, Summit Securities Group LLC bought a new position in Suncor Energy during the 4th quarter worth about $44,000. Institutional investors and hedge funds own 67.37% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wall Street Zen downgraded Suncor Energy from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. Morgan Stanley set a $106.00 price objective on Suncor Energy in a research report on Wednesday, August 19th. The Goldman Sachs Group downgraded Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 price objective for the company. in a report on Friday, June 5th. Zacks Research lowered Suncor Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings upgraded Suncor Energy from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $80.25.

Suncor Energy Stock Down 1.4%

Suncor Energy stock opened at $65.50 on Friday. The company 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 0.30. Suncor Energy Inc. has a 1-year low of $37.76 and a 1-year high of $70.29. The company has a fifty day simple moving average of $61.93 and a 200 day simple moving average of $62.06. 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 issued its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.19. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. The firm had revenue of $13.41 billion for the quarter, compared to analyst estimates of $11.68 billion. During the same period in the previous year, the business earned $0.71 EPS. Research analysts anticipate that Suncor Energy Inc. will post 7.39 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The business 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 $0.60 dividend. The ex-dividend date is Friday, September 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.7%. Suncor Energy's dividend payout ratio (DPR) is presently 32.04%.

Suncor Energy Company 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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