Suncor Energy Inc. $SU is Goehring & Rozencwajg Associates LLC's 4th Largest Position

Key Points

• Goehring & Rozencwajg Associates increased its stake in Suncor Energy by 153% in the first quarter, making it the fund’s 4th-largest holding. The position was worth about $121.7 million and represented 6.5% of the portfolio.
• Wall Street sentiment on Suncor has improved, with several firms upgrading the stock to stronger ratings. Overall, analysts now have an average Buy rating and a consensus price target of $71.67.
• Suncor reported Q1 earnings of $1.41 per share, slightly below estimates, but revenue of $10.41 billion topped expectations. The company also pays a quarterly dividend of $0.60, yielding about 4.0%.

Goehring & Rozencwajg Associates LLC grew its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 153.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,840,155 shares of the oil and gas producer's stock after buying an additional 1,112,774 shares during the period. Suncor Energy accounts for 6.5% of Goehring & Rozencwajg Associates LLC's investment portfolio, making the stock its 4th largest holding. Goehring & Rozencwajg Associates LLC owned about 0.16% of Suncor Energy worth $121,668,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

SU has been the topic of several recent research reports. Wall Street Zen raised shares of Suncor Energy from a "buy" rating to a "strong-buy" rating in a research note on Sunday. ATB Cormark Capital Markets upgraded shares of Suncor Energy from a "hold" rating to a "moderate buy" rating in a research note on Wednesday, April 1st. Scotiabank raised shares of Suncor Energy to a "strong-buy" rating in a report on Friday, June 26th. Zacks Research upgraded shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 6th. Finally, The Goldman Sachs Group cut shares of Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 price target for the company. in a report on Friday, June 5th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $71.67.

Suncor Energy Price Performance

SU stock opened at $60.67 on Thursday. The stock's 50 day moving average price is $61.21 and its 200 day moving average price is $58.53. The firm has a market cap of $71.64 billion, a P/E ratio of 15.93 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 Inc. has a 1 year low of $37.76 and a 1 year high of $70.29.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing analysts' consensus estimates of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The firm had revenue of $10.41 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the firm earned $1.31 EPS. On average, sell-side analysts expect that Suncor Energy Inc. will post 7.07 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were issued a $0.60 dividend. The ex-dividend date was Thursday, June 4th. This represents a $2.40 annualized dividend and a yield of 4.0%. Suncor Energy's payout ratio is 45.67%.

Suncor Energy Company 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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