Live Oak Investment Partners Makes New Investment in Suncor Energy Inc. $SU

Key Points

• Live Oak Investment Partners acquired 33,523 Suncor Energy shares worth approximately $1.8 million in the second quarter, while institutional investors and hedge funds collectively own 67.37% of the company.
• Suncor reported quarterly earnings of $2.33 per share, exceeding analyst estimates of $2.14, and posted revenue of $13.41 billion versus expectations of $11.68 billion.
• The company declared a quarterly dividend of $0.60 per share, equivalent to $2.40 annually and a 3.6% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $80.25.

Live Oak Investment Partners acquired a new stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 33,523 shares of the oil and gas producer's stock, valued at approximately $1,800,000. Suncor Energy comprises about 1.0% of Live Oak Investment Partners' investment portfolio, making the stock its 25th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Csenge Advisory Group purchased a new stake in shares of Suncor Energy during the 2nd quarter worth $213,000. West Family Investments Inc. acquired a new position in shares of Suncor Energy during the second quarter worth $316,000. Tacita Capital Inc purchased a new position in Suncor Energy in the second quarter valued at $770,000. NewEdge Wealth LLC purchased a new position in Suncor Energy in the second quarter valued at $61,626,000. Finally, Great Lakes Advisors LLC acquired a new stake in Suncor Energy in the second quarter valued at $19,331,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Stock Down 0.2%

Shares of NYSE:SU opened at $67.54 on Thursday. Suncor Energy Inc. has a 1-year low of $37.76 and a 1-year high of $70.29. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08. The stock has a market cap of $79.75 billion, a P/E ratio of 12.44, a P/E/G ratio of 0.49 and a beta of 0.30. The firm has a fifty day moving average price of $60.75 and a 200 day moving average price of $61.45.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, beating 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 company 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. Sell-side analysts predict that Suncor Energy Inc. will post 7.39 EPS for the current year.

Suncor Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SU. Morgan Stanley set a $106.00 price objective on Suncor Energy in a research report on Wednesday. Scotiabank raised Suncor Energy to a "strong-buy" rating in a research report 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 research note on Friday, June 5th. Wall Street Zen downgraded Suncor Energy from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 1st. Finally, Weiss Ratings raised Suncor Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 29th. 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 stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $80.25.

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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