Dimensional Fund Advisors LP Raises Stock Position in Suncor Energy Inc. $SU

Key Points

• Dimensional Fund Advisors LP increased its Suncor Energy stake by 3.4% in the first quarter, ending with 12.6 million shares valued at about $833.6 million.
• Other institutional investors also boosted holdings, and 67.37% of Suncor’s stock is now owned by hedge funds and other institutions.
• Analyst sentiment remains mostly positive despite a Goldman Sachs downgrade: Suncor now has a consensus Buy rating with a target price of $71.67, while the stock recently traded at $62.45.

Dimensional Fund Advisors LP grew its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 3.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,609,777 shares of the oil and gas producer's stock after buying an additional 411,243 shares during the period. Dimensional Fund Advisors LP owned 1.06% of Suncor Energy worth $833,622,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Parallel Advisors LLC lifted its position in Suncor Energy by 8.4% in the first quarter. Parallel Advisors LLC now owns 9,343 shares of the oil and gas producer's stock valued at $618,000 after acquiring an additional 721 shares during the last quarter. Swiss National Bank boosted its stake in Suncor Energy by 26.2% in the first quarter. Swiss National Bank now owns 4,043,492 shares of the oil and gas producer's stock valued at $267,051,000 after acquiring an additional 838,900 shares in the last quarter. World Equity Group Inc. purchased a new position in shares of Suncor Energy during the first quarter worth about $676,000. Assetmark Inc. grew its holdings in shares of Suncor Energy by 55.4% during the first quarter. Assetmark Inc. now owns 28,681 shares of the oil and gas producer's stock worth $1,896,000 after purchasing an additional 10,219 shares during the last quarter. Finally, Barings LLC increased its position in shares of Suncor Energy by 231.3% during the first quarter. Barings LLC now owns 288,783 shares of the oil and gas producer's stock worth $19,104,000 after purchasing an additional 201,608 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. 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 report on Friday, June 5th. ATB Cormark Capital Markets upgraded Suncor Energy from a "hold" rating to a "moderate buy" rating in a research note on Wednesday, April 1st. Wall Street Zen raised Suncor Energy from a "buy" rating to a "strong-buy" rating in a research report on Sunday, July 12th. Desjardins raised Suncor Energy to a "moderate buy" rating in a research report on Thursday. Finally, Royal Bank Of Canada boosted their price objective on Suncor Energy from $75.00 to $89.00 and gave the company an "outperform" rating in a research note on Wednesday, April 1st. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $71.67.

Suncor Energy Price Performance

Shares of NYSE:SU opened at $62.45 on Monday. The company has a 50-day simple moving average of $61.11 and a 200-day simple moving average of $58.78. Suncor Energy Inc. has a one year low of $37.76 and a one year high of $70.29. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42. The stock has a market capitalization of $73.73 billion, a price-to-earnings ratio of 16.39 and a beta of 0.30.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.45 by ($0.04). The company had revenue of $10.41 billion for the quarter, compared to analysts' expectations of $9.22 billion. Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.During the same period in the prior year, the business earned $1.31 EPS. On average, analysts predict that Suncor Energy Inc. will post 6.9 EPS for the current year.

Suncor Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, June 4th. Suncor Energy's dividend payout ratio (DPR) is presently 45.67%.

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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