Goehring & Rozencwajg Associates LLC Makes New $32.27 Million Investment in Suncor Energy Inc. $SU

Key Points

• Goehring & Rozencwajg Associates LLC opened a new position in Suncor Energy, buying 727,381 shares worth about $32.27 million. The stake represents 3.1% of its portfolio and about 0.06% of Suncor’s outstanding shares.
• Suncor Energy reported mixed quarterly results, with EPS of $1.41 missing estimates by a small margin, while revenue of $10.41 billion came in above expectations. Analysts still expect the company to earn 7.07 EPS for the current fiscal year.
• The company declared a quarterly dividend of $0.60 per share, equal to an annualized yield of 3.9%. Wall Street’s consensus on the stock remains Moderate Buy, with an average price target of $71.67.

Goehring & Rozencwajg Associates LLC acquired a new position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 727,381 shares of the oil and gas producer's stock, valued at approximately $32,267,000. Suncor Energy accounts for 3.1% of Goehring & Rozencwajg Associates LLC's portfolio, making the stock its 13th largest position. Goehring & Rozencwajg Associates LLC owned about 0.06% of Suncor Energy at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Suncor Energy by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer's stock worth $2,473,173,000 after acquiring an additional 1,166,405 shares during the period. Artisan Partners Limited Partnership raised its position in Suncor Energy by 0.4% during the third quarter. Artisan Partners Limited Partnership now owns 33,868,775 shares of the oil and gas producer's stock worth $1,417,029,000 after acquiring an additional 145,800 shares during the period. Dodge & Cox raised its position 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 worth $1,148,602,000 after acquiring an additional 70,300 shares during the period. Principal Financial Group Inc. raised its position in Suncor Energy by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 19,371,704 shares of the oil and gas producer's stock worth $860,933,000 after acquiring an additional 516,783 shares during the period. Finally, Fisher Asset Management LLC raised its position in Suncor Energy by 8.3% during the fourth quarter. Fisher Asset Management LLC now owns 16,820,924 shares of the oil and gas producer's stock worth $746,176,000 after acquiring an additional 1,289,959 shares during the period. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Price Performance

Suncor Energy stock opened at $61.56 on Friday. Suncor Energy Inc. has a 52-week low of $37.22 and a 52-week high of $70.29. The firm has a market capitalization of $72.69 billion, a price-to-earnings ratio of 16.16 and a beta of 0.27. The company has a fifty day simple moving average of $64.94 and a 200-day simple moving average of $56.36. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its 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). Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.The business had revenue of $10.41 billion for the quarter, compared to analysts' expectations of $9.22 billion. During the same period in the previous year, the company earned $1.31 EPS. On average, equities analysts anticipate that Suncor Energy Inc. will post 7.07 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.9%. Suncor Energy's dividend payout ratio is presently 45.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SU shares. Weiss Ratings cut shares of Suncor Energy from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, June 3rd. Royal Bank Of Canada upped their price objective on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 1st. The Goldman Sachs Group lowered shares of 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 raised shares of Suncor Energy from a "hold" rating to a "moderate buy" rating in a report on Wednesday, April 1st. Finally, Wall Street Zen lowered shares of Suncor Energy from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 7th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $71.67.

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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