Pictet Asset Management Holding SA Boosts Stock Holdings in Suncor Energy Inc. $SU

Key Points

• Pictet Asset Management boosted its stake in Suncor Energy by 3.7% in Q4 to 431,007 shares (worth $19,155,000), as institutional investors now own 67.37% of the company and Vanguard holds 55,720,921 shares after adding 1,166,405 shares.
• Suncor reported Q4 EPS of $0.79 versus a $0.77 estimate and revenue of $8.77 billion, trades near its 1‑year high (~$67.58), has a market cap of $80.03 billion and a P/E of 19.48, and pays a $0.60 quarterly dividend (3.6% yield, $2.40 annual).
• Analysts are broadly positive with a consensus "Buy" and a $72 target price, and several upgrades including RBC raising its target to $89 and Goldman Sachs increasing its target to $73.

Pictet Asset Management Holding SA increased its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 431,007 shares of the oil and gas producer's stock after buying an additional 15,332 shares during the period. Pictet Asset Management Holding SA's holdings in Suncor Energy were worth $19,155,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Viewpoint Investment Partners Corp purchased a new stake in shares of Suncor Energy during the 4th quarter worth about $217,000. Live Oak Investment Partners increased its stake in shares of Suncor Energy by 30.9% in the 4th quarter. Live Oak Investment Partners now owns 34,737 shares of the oil and gas producer's stock valued at $1,541,000 after purchasing an additional 8,206 shares in the last quarter. Vanguard Group Inc. raised its holdings in Suncor Energy by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer's stock worth $2,473,173,000 after purchasing an additional 1,166,405 shares during the period. HB Wealth Management LLC raised its holdings in Suncor Energy by 4.9% in the 4th quarter. HB Wealth Management LLC now owns 17,050 shares of the oil and gas producer's stock worth $756,000 after purchasing an additional 801 shares during the period. Finally, Ruffer LLP boosted its position in Suncor Energy by 6.9% during the fourth quarter. Ruffer LLP now owns 999,168 shares of the oil and gas producer's stock worth $44,471,000 after purchasing an additional 64,131 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Stock Performance

Shares of NYSE:SU opened at $67.58 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 0.89. Suncor Energy Inc. has a 1 year low of $33.50 and a 1 year high of $68.62. The firm has a market capitalization of $80.03 billion, a PE ratio of 19.48 and a beta of 0.32. The business's 50 day moving average price is $62.02 and its 200-day moving average price is $51.43.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings data on Tuesday, February 3rd. The oil and gas producer reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.The firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.79 billion. During the same period in the prior year, the company earned $1.25 EPS. As a group, equities research analysts expect that Suncor Energy Inc. will post 6.72 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th were given a dividend of $0.60 per share. The ex-dividend date was Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.6%. Suncor Energy's payout ratio is presently 50.43%.

Analyst Upgrades and Downgrades

Several analysts have commented on SU shares. The Goldman Sachs Group raised their price objective on Suncor Energy from $66.00 to $73.00 and gave the company a "buy" rating in a report on Wednesday, April 1st. JPMorgan Chase & Co. upgraded Suncor Energy from a "neutral" rating to an "overweight" rating and increased their target price for the company from $46.15 to $54.00 in a research report on Tuesday, January 20th. Zacks Research raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 2nd. 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, Royal Bank Of Canada lifted their target price on shares of Suncor Energy from $75.00 to $89.00 and gave the company an "outperform" rating in a research report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Suncor Energy has a consensus rating of "Buy" and a consensus target price of $72.00.

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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