Public Employees Retirement System of Ohio Acquires 50,502 Shares of Suncor Energy Inc. $SU

Key Points

• Public Employees Retirement System of Ohio increased its Suncor Energy stake by 6.3% in the first quarter, adding 50,502 shares and bringing its total to 846,111 shares valued at about $55.8 million.
• Suncor Energy’s latest earnings showed mixed results: Q1 EPS of $1.41 missed estimates, but revenue of $10.41 billion came in above expectations. Analysts still expect the company to earn 6.9 EPS for the full year.
• The company recently paid a quarterly dividend of $0.60 per share, equal to an annualized yield of 3.6%, while Wall Street’s overall view remains positive with an average Buy rating and a $71.67 target price.

Public Employees Retirement System of Ohio grew its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 6.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 846,111 shares of the oil and gas producer's stock after purchasing an additional 50,502 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.07% of Suncor Energy worth $55,802,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. AQR Capital Management LLC raised its holdings in Suncor Energy by 14.2% during the first quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer's stock valued at $959,000 after buying an additional 3,115 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Suncor Energy by 172.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer's stock worth $77,000 after acquiring an additional 1,254 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Suncor Energy by 21.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer's stock worth $100,000 after acquiring an additional 464 shares in the last quarter. AXA S.A. increased its holdings in shares of Suncor Energy by 17.2% during the 2nd quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer's stock valued at $1,883,000 after acquiring an additional 7,395 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of Suncor Energy by 6.4% during the 2nd quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer's stock valued at $2,514,000 after acquiring an additional 4,043 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Price Performance

NYSE SU opened at $66.35 on Friday. The stock has a 50-day simple moving average of $60.96 and a 200 day simple moving average of $59.33. Suncor Energy Inc. has a twelve month low of $37.76 and a twelve month high of $70.29. The stock has a market capitalization of $78.34 billion, a PE ratio of 17.41 and a beta of 0.30. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the firm earned $1.31 earnings per share. Research analysts anticipate that Suncor Energy Inc. will post 6.9 EPS for the current year.

Suncor Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors 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 yield of 3.6%. Suncor Energy's payout ratio is 45.41%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SU. Scotiabank upgraded Suncor Energy to a "strong-buy" rating in a report on Friday, June 26th. The Goldman Sachs Group downgraded Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 price target on the stock. 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 research report on Wednesday, April 1st. Weiss Ratings cut shares of Suncor Energy from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 14th. Finally, Zacks Research raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average 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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