Sequoia Financial Advisors LLC Buys 14,960 Shares of Suncor Energy Inc. $SU

Key Points

• Sequoia Financial Advisors LLC increased its stake in Suncor Energy by 43.1%, acquiring an additional 14,960 shares, bringing its total holdings to 49,668 shares worth approximately $1.86 million.
• Suncor Energy recently reported $0.51 EPS for the quarter, slightly beating analysts' expectations, but had revenue significantly lower than projections at $8.81 billion.
• The company announced an increased quarterly dividend of $0.4135 per share, yielding approximately 4.3%, reflecting a positive change from the previous quarter's dividend.

Sequoia Financial Advisors LLC boosted its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 43.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,668 shares of the oil and gas producer's stock after purchasing an additional 14,960 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Suncor Energy were worth $1,860,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Shell Asset Management Co. boosted its position in Suncor Energy by 65.8% during the second quarter. Shell Asset Management Co. now owns 103,082 shares of the oil and gas producer's stock worth $3,854,000 after purchasing an additional 40,892 shares during the period. Focus Partners Wealth boosted its position in Suncor Energy by 1.3% during the first quarter. Focus Partners Wealth now owns 796,967 shares of the oil and gas producer's stock worth $30,859,000 after purchasing an additional 10,514 shares during the period. Principal Financial Group Inc. boosted its position in Suncor Energy by 65.0% during the first quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer's stock worth $620,136,000 after purchasing an additional 6,311,513 shares during the period. Inscription Capital LLC bought a new stake in Suncor Energy during the first quarter worth approximately $247,000. Finally, Canoe Financial LP bought a new stake in Suncor Energy during the second quarter worth approximately $9,653,000. Institutional investors own 67.37% of the company's stock.

Suncor Energy Stock Performance

Shares of NYSE SU opened at $38.57 on Friday. The business has a fifty day simple moving average of $40.71 and a 200 day simple moving average of $38.27. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $46.63 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 3.09 and a beta of 0.78. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $43.48.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.01. The business had revenue of $8.81 billion during the quarter, compared to analyst estimates of $11.56 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.During the same period in the prior year, the company posted $1.27 earnings per share. Sell-side analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current 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 paid a $0.4135 dividend. The ex-dividend date was Thursday, September 4th. This is a positive change from Suncor Energy's previous quarterly dividend of $0.41. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.3%. Suncor Energy's dividend payout ratio is currently 51.08%.

Analyst Ratings Changes

A number of research analysts have recently commented on SU shares. Royal Bank Of Canada reiterated an "outperform" rating and set a $65.00 price target on shares of Suncor Energy in a report on Friday, October 3rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Suncor Energy in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $65.00.

About Suncor Energy

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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