Sentry Investment Management LLC Buys Shares of 8,965 Suncor Energy Inc. $SU

Key Points

• Sentry Investment Management LLC acquired 8,965 shares of Suncor Energy, valued at approximately $348,000, during the second quarter.
• Suncor Energy recently raised its quarterly dividend to $0.4135 per share, marking an annualized yield of 4.3%.
• Despite a recent drop in stock value, analysts maintain a mixed outlook with a price target of $65.00 and varied ratings from "Strong Buy" to "Sell."

Sentry Investment Management LLC bought a new stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,965 shares of the oil and gas producer's stock, valued at approximately $348,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Ascent Group LLC increased its holdings in Suncor Energy by 4.7% in the second quarter. Ascent Group LLC now owns 5,769 shares of the oil and gas producer's stock valued at $216,000 after buying an additional 260 shares in the last quarter. IFP Advisors Inc increased its holdings in Suncor Energy by 27.6% in the second quarter. IFP Advisors Inc now owns 1,428 shares of the oil and gas producer's stock valued at $53,000 after buying an additional 309 shares in the last quarter. Winthrop Capital Management LLC increased its holdings in Suncor Energy by 2.6% in the first quarter. Winthrop Capital Management LLC now owns 13,654 shares of the oil and gas producer's stock valued at $529,000 after buying an additional 352 shares in the last quarter. Harbour Investments Inc. increased its holdings in Suncor Energy by 67.0% in the first quarter. Harbour Investments Inc. now owns 1,169 shares of the oil and gas producer's stock valued at $45,000 after buying an additional 469 shares in the last quarter. Finally, CW Advisors LLC increased its holdings in Suncor Energy by 0.7% in the first quarter. CW Advisors LLC now owns 69,549 shares of the oil and gas producer's stock valued at $2,693,000 after buying an additional 475 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Zacks Research cut shares of Suncor Energy from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 15th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $65.00 price target on shares of Suncor Energy in a research report on Friday, October 3rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Suncor Energy in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company assumed coverage on shares of Suncor Energy in a research report on Friday. They issued an "equal weight" rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $65.00.

Suncor Energy Stock Down 0.1%

SU stock opened at $38.54 on Monday. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $43.48. The company's 50 day simple moving average is $40.70 and its 200-day simple moving average is $38.27. The firm has a market capitalization of $46.60 billion, a PE ratio of 11.86, a P/E/G ratio of 3.05 and a beta of 0.78. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. The firm had revenue of $8.81 billion for the quarter, compared to analyst estimates of $11.56 billion. During the same quarter last year, the business earned $1.27 earnings per share. Equities analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 4th were given a dividend of $0.4135 per share. This represents a $1.65 dividend on an annualized basis and a yield of 4.3%. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date was Thursday, September 4th. Suncor Energy's dividend payout ratio (DPR) is 51.08%.

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.

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