Suncor Energy Inc. $SU Stake Lifted by Barings LLC

Key Points

• Barings LLC sharply increased its Suncor Energy stake by 231.3% in the first quarter, ending with 288,783 shares valued at about $19.1 million.
• Suncor Energy reported mixed quarterly results: earnings of $1.41 per share missed estimates, while revenue of $10.41 billion came in above expectations.
• The company continues to draw support from income investors, with a recently paid quarterly dividend of $0.60 per share equating to a 4.0% yield; analysts currently rate the stock Buy on average with a $71.67 price target.

Barings LLC boosted its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 231.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 288,783 shares of the oil and gas producer's stock after buying an additional 201,608 shares during the period. Barings LLC's holdings in Suncor Energy were worth $19,104,000 as of its most recent SEC filing.

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

Suncor Energy Trading Down 0.0%

Suncor Energy stock opened at $60.63 on Friday. The firm has a market cap of $71.59 billion, a price-to-earnings ratio of 15.91 and a beta of 0.30. Suncor Energy Inc. has a 1 year low of $37.76 and a 1 year high of $70.29. The firm's 50 day moving average price is $61.14 and its two-hundred day moving average price is $58.65. 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 announced its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing analysts' consensus estimates of $1.45 by ($0.04). The company had revenue of $10.41 billion for the quarter, compared to analyst estimates of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same quarter last year, the company posted $1.31 EPS. On average, research analysts predict that Suncor Energy Inc. will post 7.07 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.0%. Suncor Energy's payout ratio is 45.67%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Weiss Ratings lowered Suncor Energy from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday. Wall Street Zen raised shares of Suncor Energy from a "buy" rating to a "strong-buy" rating in a report on Sunday, July 12th. Scotiabank upgraded shares of Suncor Energy to a "strong-buy" rating in a research report on Friday, June 26th. ATB Cormark Capital Markets raised shares of Suncor Energy from a "hold" rating to a "moderate buy" rating in a research note on Wednesday, April 1st. Finally, Zacks Research upgraded shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. Two 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's stock. According to MarketBeat, Suncor Energy has a consensus rating of "Buy" and an average price target of $71.67.

Suncor Energy 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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