Suncor Energy Inc. $SU Shares Purchased by Shell Asset Management Co.

Key Points

• Shell Asset Management Co. has increased its holdings in Suncor Energy by 65.8% during the second quarter, acquiring an additional 40,892 shares for a total of 103,082 shares valued at approximately $3.85 million.
• Suncor Energy recently reported an earnings per share (EPS) of $0.51, slightly surpassing expectations, but revenue fell short with $8.81 billion reported against an estimated $11.56 billion.
• The company declared a quarterly dividend of $0.4135 per share, representing a 4.0% yield, showcasing a positive increase from the previous quarterly dividend.

Shell Asset Management Co. boosted its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 65.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,082 shares of the oil and gas producer's stock after acquiring an additional 40,892 shares during the quarter. Shell Asset Management Co.'s holdings in Suncor Energy were worth $3,854,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hanson & Doremus Investment Management boosted its holdings in Suncor Energy by 143.5% in the first quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock valued at $31,000 after acquiring an additional 465 shares during the last quarter. Salem Investment Counselors Inc. boosted its holdings in Suncor Energy by 97.6% in the first quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock valued at $32,000 after acquiring an additional 405 shares during the last quarter. Maseco LLP acquired a new position in Suncor Energy in the second quarter valued at $32,000. N.E.W. Advisory Services LLC purchased a new position in Suncor Energy in the first quarter valued at about $36,000. Finally, Wayfinding Financial LLC purchased a new position in Suncor Energy in the first quarter valued at about $42,000. Institutional investors and hedge funds own 67.37% of the company's stock.

Analysts Set New Price Targets

SU has been the topic of several research reports. Weiss Ratings reissued a "hold (c+)" rating on shares of Suncor Energy in a research report on Saturday, September 27th. Royal Bank Of Canada reissued an "outperform" rating and issued a $65.00 price objective on shares of Suncor Energy in a research report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Suncor Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.00.

Suncor Energy Stock Down 0.5%

NYSE:SU opened at $41.33 on Wednesday. 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 stock has a 50 day moving average of $40.65 and a 200-day moving average of $38.22. The firm has a market capitalization of $49.96 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 3.37 and a beta of 0.78. Suncor Energy Inc. has a 52 week low of $30.79 and a 52 week high of $43.48.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. The business had revenue of $8.81 billion during the quarter, compared to the consensus estimate 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 previous year, the firm posted $1.27 earnings per share. Analysts predict 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. Shareholders of record on Thursday, September 4th were given a $0.4135 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 4.0%. This is a positive change from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date was Thursday, September 4th. Suncor Energy's payout ratio is currently 51.08%.

Suncor Energy Company Profile

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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