Polar Asset Management Partners Inc. Invests $1.96 Million in Suncor Energy Inc. (NYSE:SU)

Polar Asset Management Partners Inc. acquired a new stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 55,000 shares of the oil and gas producer's stock, valued at approximately $1,962,000.

Several other hedge funds have also recently modified their holdings of SU. Jones Financial Companies Lllp boosted its position in Suncor Energy by 86.0% in the 4th quarter. Jones Financial Companies Lllp now owns 67,848 shares of the oil and gas producer's stock worth $2,421,000 after purchasing an additional 31,366 shares in the last quarter. Sage Investment Counsel LLC purchased a new stake in Suncor Energy in the 4th quarter worth approximately $300,000. J.W. Cole Advisors Inc. purchased a new stake in Suncor Energy in the 4th quarter worth approximately $236,000. Bank of New York Mellon Corp boosted its position in Suncor Energy by 104.2% in the 4th quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer's stock worth $110,017,000 after purchasing an additional 1,573,726 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Suncor Energy by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,457,325 shares of the oil and gas producer's stock worth $159,030,000 after purchasing an additional 99,669 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Price Performance

SU traded down $0.16 on Friday, hitting $35.60. 3,871,094 shares of the company's stock were exchanged, compared to its average volume of 4,440,979. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $41.95. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $35.32 and a 200-day moving average price of $37.11. The stock has a market cap of $43.90 billion, a price-to-earnings ratio of 10.32, a P/E/G ratio of 2.94 and a beta of 0.79.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. The company had revenue of $9.10 billion for the quarter, compared to analysts' expectations of $13.39 billion. During the same quarter in the previous year, the company posted $1.41 EPS. As a group, equities analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.4133 per share. This represents a $1.65 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend is Wednesday, June 4th. This is a boost from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's payout ratio is 45.53%.

Analyst Upgrades and Downgrades

Several research firms have commented on SU. Wall Street Zen lowered Suncor Energy from a "buy" rating to a "hold" rating in a research report on Thursday, April 17th. Bank of America initiated coverage on Suncor Energy in a research report on Wednesday, February 26th. They set a "neutral" rating on the stock. Tudor Pickering upgraded Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 10th. Cibc World Mkts upgraded Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 11th. Finally, Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a "hold" rating to a "buy" rating in a research report on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.67.

Suncor Energy Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.