Stonehage Fleming Financial Services Holdings Ltd Purchases Shares of 24,719 Suncor Energy Inc. $SU

Key Points

• Stonehage Fleming Financial Services Holdings purchased 24,719 Suncor Energy shares worth approximately $1.33 million, while institutional investors collectively own 67.37% of the company.
• Suncor reported quarterly earnings of $2.33 per share, exceeding the $2.14 analyst consensus, while revenue of $13.41 billion also surpassed estimates.
• The company declared a quarterly dividend of $0.60 per share, equivalent to $2.40 annually and a 3.6% yield. Analysts maintain a consensus “Moderate Buy” rating with an $80.25 price target.

Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 24,719 shares of the oil and gas producer's stock, valued at approximately $1,327,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SU. Versant Capital Management Inc lifted its stake in Suncor Energy by 418.9% during the 2nd quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer's stock valued at $26,000 after acquiring an additional 398 shares in the last quarter. Headlands Technologies LLC purchased a new position in Suncor Energy during the 2nd quarter worth $31,000. 1 North Wealth Services LLC bought a new stake in shares of Suncor Energy in the 4th quarter worth $32,000. Accent Capital Management LLC raised its holdings in shares of Suncor Energy by 37.5% in the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer's stock valued at $37,000 after purchasing an additional 225 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of Suncor Energy in the fourth quarter valued at about $44,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Trading Up 1.2%

NYSE SU opened at $66.43 on Friday. The stock has a market capitalization of $78.44 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 0.47 and a beta of 0.30. Suncor Energy Inc. has a one year low of $37.76 and a one year high of $70.29. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08. The business's fifty day moving average is $61.73 and its 200-day moving average is $62.03.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, topping analysts' consensus estimates of $2.14 by $0.19. The company had revenue of $13.41 billion for the quarter, compared to the consensus estimate of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same period in the previous year, the firm earned $0.71 EPS. Equities research analysts predict that Suncor Energy Inc. will post 7.39 EPS for the current year.

Suncor Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Friday, September 4th. Suncor Energy's payout ratio is presently 32.04%.

Wall Street Analysts Forecast Growth

SU has been the topic of several analyst reports. Scotiabank upgraded shares of Suncor Energy to a "strong-buy" rating in a report on Friday, June 26th. The Goldman Sachs Group cut shares of Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 target price on the stock. in a research report on Friday, June 5th. Weiss Ratings raised shares of Suncor Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, July 29th. Wall Street Zen downgraded Suncor Energy from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. Finally, Zacks Research lowered Suncor Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.25.

About Suncor Energy

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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