Foster & Motley Inc. Makes New Investment in Suncor Energy Inc. $SU

Key Points

• Foster & Motley initiated a $1.77 million position in Suncor Energy during the second quarter by purchasing 32,910 shares. Institutional ownership now stands at 67.37%, with BlackRock and Deutsche Bank also making sizable new investments.
• Suncor reported quarterly earnings of $2.33 per share, exceeding the $2.14 consensus estimate, while revenue reached $13.41 billion versus expectations of $11.68 billion.
• The company declared a quarterly dividend of $0.60 per share, equal to an annualized $2.40 payout and a 3.6% yield. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $80.25.

Foster & Motley Inc. 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 Form 13F filing with the SEC. The firm purchased 32,910 shares of the oil and gas producer's stock, valued at approximately $1,767,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Texas Capital Bank Wealth Management Services Inc purchased a new position in Suncor Energy during the second quarter valued at $447,000. K.J. Harrison & Partners Inc purchased a new stake in shares of Suncor Energy during the second quarter worth about $3,961,000. BlackRock Inc. purchased a new stake in shares of Suncor Energy during the second quarter worth about $124,096,000. Occidental Asset Management LLC acquired a new position in shares of Suncor Energy during the 2nd quarter worth about $818,000. Finally, Deutsche Bank AG acquired a new position in shares of Suncor Energy during the 2nd quarter worth about $165,381,000. Hedge funds and other institutional investors own 67.37% of the company's stock.

Suncor Energy Price Performance

Shares of NYSE SU opened at $67.54 on Thursday. The firm has a 50-day simple moving average of $60.75 and a 200-day simple moving average of $61.45. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $79.75 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 0.49 and a beta of 0.30. Suncor Energy Inc. has a 52 week low of $37.76 and a 52 week high of $70.29.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share 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 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 posted $0.71 earnings per share. On average, equities analysts predict that Suncor Energy Inc. will post 7.39 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Friday, September 4th. Suncor Energy's dividend payout ratio (DPR) is 32.04%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Zacks Research lowered shares of Suncor Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. Scotiabank upgraded Suncor Energy to a "strong-buy" rating in a research note on Friday, June 26th. The Goldman Sachs Group cut 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. Weiss Ratings upgraded Suncor Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, July 29th. Finally, Wall Street Zen lowered Suncor Energy from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $80.25.

Suncor Energy 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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