Suncor Energy Inc. $SU Shares Acquired by Royal Fund Management LLC

Key Points

• Royal Fund Management increased its Suncor Energy stake by 30% in the first quarter, acquiring 17,792 additional shares for a total holding of 77,079 shares valued at approximately $5.1 million.
• Several major institutional investors also expanded their positions, including Arrowstreet Capital, AQR Capital Management, and the Healthcare of Ontario Pension Plan. Institutional investors and hedge funds collectively own 67.37% of Suncor’s shares.
• Suncor reported quarterly revenue of $10.41 billion but missed earnings expectations slightly, posting EPS of $1.41 versus the $1.45 consensus. The company pays a quarterly dividend of $0.60 per share, equivalent to a 3.6% yield, while analysts maintain a consensus “Buy” rating.

Royal Fund Management LLC lifted its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 30.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,079 shares of the oil and gas producer's stock after acquiring an additional 17,792 shares during the period. Royal Fund Management LLC's holdings in Suncor Energy were worth $5,096,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership boosted its holdings in Suncor Energy by 121.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer's stock worth $1,724,954,000 after buying an additional 14,304,131 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Suncor Energy by 7,636.8% during the 4th quarter. AQR Capital Management LLC now owns 6,016,483 shares of the oil and gas producer's stock worth $267,042,000 after buying an additional 5,938,719 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Suncor Energy by 238.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,758,650 shares of the oil and gas producer's stock valued at $512,987,000 after acquiring an additional 5,469,431 shares during the last quarter. FIL Ltd grew its stake in Suncor Energy by 14.0% in the 4th quarter. FIL Ltd now owns 21,050,387 shares of the oil and gas producer's stock valued at $934,312,000 after acquiring an additional 2,592,516 shares during the last quarter. Finally, Alberta Investment Management Corp acquired a new position in Suncor Energy during the fourth quarter worth about $93,960,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Stock Performance

Suncor Energy stock opened at $65.84 on Thursday. The firm has a market capitalization of $77.74 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 0.48 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 stock's 50 day moving average price is $60.64 and its 200 day moving average price is $59.89. 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 posted its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $9.22 billion. During the same quarter in the prior year, the business earned $1.31 EPS. As a group, sell-side analysts expect that Suncor Energy Inc. will post 7.11 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 4th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $2.40 annualized dividend and a yield of 3.6%. Suncor Energy's payout ratio is 45.41%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SU shares. Royal Bank Of Canada increased their price target on shares of Suncor Energy from $75.00 to $89.00 and gave the company an "outperform" rating in a research report on Wednesday, April 1st. ATB Cormark Capital Markets upgraded Suncor Energy from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, April 1st. Wall Street Zen upgraded Suncor Energy from a "buy" rating to a "strong-buy" rating in a research report on Sunday, July 12th. Weiss Ratings lowered shares of Suncor Energy from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 14th. Finally, The Goldman Sachs Group downgraded 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 research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Suncor Energy has a consensus rating of "Buy" and an average target price of $71.67.

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.

Want to see what other hedge funds are holding SU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.