Suncor Energy Inc. $SU Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. raised its stake in Suncor Energy by 2.1% in Q3 to 896,556 shares, valued at about $37.5 million (≈0.07% of the company).
• Suncor announced a quarterly dividend of $0.60 (annualized $2.40) for a ~4.2% yield, with an ex-dividend date of March 4 and payment on March 25.
• Suncor reported EPS $0.79 for the quarter, beating estimates by $0.02 while revenue was roughly in line, and holds a consensus rating of Moderate Buy with a $61 target.

American Century Companies Inc. lifted its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 896,556 shares of the oil and gas producer's stock after buying an additional 18,231 shares during the quarter. American Century Companies Inc. owned about 0.07% of Suncor Energy worth $37,519,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Richardson Financial Services Inc. increased its stake in Suncor Energy by 64.1% in the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer's stock valued at $29,000 after purchasing an additional 275 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Suncor Energy in the second quarter valued at about $31,000. Hanson & Doremus Investment Management raised its position in shares of Suncor Energy by 143.5% during the 3rd quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock worth $33,000 after purchasing an additional 465 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Suncor Energy by 95.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer's stock worth $33,000 after purchasing an additional 388 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new stake in Suncor Energy in the 2nd quarter valued at approximately $37,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Price Performance

Shares of SU opened at $56.87 on Friday. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $58.63. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.39. The firm has a market capitalization of $67.67 billion, a price-to-earnings ratio of 16.39 and a beta of 0.43. The stock's fifty day moving average is $51.89 and its 200-day moving average is $45.37.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.02. The business had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.79 billion. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. During the same period in the previous year, the firm earned $1.25 EPS. Equities analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, March 4th. Suncor Energy's dividend payout ratio is 50.72%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SU. Wall Street Zen downgraded shares of Suncor Energy from a "buy" rating to a "hold" rating in a research note on Sunday, December 28th. The Goldman Sachs Group lifted their price target on Suncor Energy from $48.00 to $54.00 and gave the company a "buy" rating in a report on Friday, January 23rd. Zacks Research lowered shares of Suncor Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 20th. Weiss Ratings reissued a "buy (b)" rating on shares of Suncor Energy in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. upgraded shares of Suncor Energy from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $46.15 to $54.00 in a report on Tuesday, January 20th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Suncor Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.00.

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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