OMERS ADMINISTRATION Corp Purchases New Position in Suncor Energy Inc. $SU

Key Points

• OMERS ADMINISTRATION Corp opened a new position in Suncor Energy during the first quarter, buying 1,188,359 shares valued at about $78.35 million.
• Suncor reported Q2 earnings of $1.41 per share, missing analyst estimates, though revenue came in above expectations at $10.41 billion.
• The company paid a quarterly dividend of $0.60 per share, equal to an annualized yield of about 3.6%, while analysts currently hold a consensus Buy rating with a target price of $71.67.

OMERS ADMINISTRATION Corp acquired a new position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,188,359 shares of the oil and gas producer's stock, valued at approximately $78,350,000. OMERS ADMINISTRATION Corp owned approximately 0.10% of Suncor Energy as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SU. Intact Investment Management Inc. raised its holdings in shares of Suncor Energy by 36.3% in the 4th quarter. Intact Investment Management Inc. now owns 1,695,160 shares of the oil and gas producer's stock valued at $75,236,000 after purchasing an additional 451,110 shares in the last quarter. Harvest Portfolios Group Inc. boosted its stake in shares of Suncor Energy by 9.1% during the fourth quarter. Harvest Portfolios Group Inc. now owns 360,668 shares of the oil and gas producer's stock valued at $16,008,000 after purchasing an additional 30,210 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 valued at $2,473,173,000 after purchasing an additional 1,166,405 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Suncor Energy by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer's stock valued at $833,622,000 after purchasing an additional 411,243 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in Suncor Energy by 3.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 431,007 shares of the oil and gas producer's stock valued at $19,155,000 after buying an additional 15,332 shares during the period. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Stock Down 0.9%

Shares of Suncor Energy stock opened at $65.84 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The company has a market cap of $77.74 billion, a P/E ratio of 17.28, a PEG ratio of 0.49 and a beta of 0.30. The firm's 50 day moving average price is $60.91 and its 200-day moving average price is $59.38. 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 earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing analysts' consensus estimates of $1.45 by ($0.04). The firm had revenue of $10.41 billion for the quarter, compared to analysts' expectations of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same period in the previous year, the company earned $1.31 EPS. On average, sell-side analysts predict that Suncor Energy Inc. will post 7.11 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.6%. Suncor Energy's dividend payout ratio is presently 45.67%.

Analyst Upgrades and Downgrades

SU has been the subject of a number of recent research reports. The Goldman Sachs Group downgraded shares of Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 price objective for the company. in a research note on Friday, June 5th. Zacks Research raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. Scotiabank upgraded Suncor Energy to a "strong-buy" rating in a report on Friday, June 26th. Wall Street Zen raised Suncor Energy from a "buy" rating to a "strong-buy" rating in a research report on Sunday, July 12th. Finally, ATB Cormark Capital Markets upgraded Suncor Energy from a "hold" rating to a "moderate buy" rating in a research note on Wednesday, April 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price 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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