Suncor Energy Inc. $SU Stake Raised by Viewpoint Investment Partners Corp

Key Points

• Viewpoint Investment Partners increased its Suncor Energy stake by 43.1% in the third quarter, bringing its holdings to 43,835 shares valued at approximately $2.97 million. Institutional investors and hedge funds collectively own 67.37% of the company.
• Analyst sentiment is broadly positive, with three Strong Buy ratings, seven Buy ratings and one Hold rating. Suncor has an average rating of “Buy” and a consensus price target of $79.62.
• Suncor reported quarterly EPS of $2.33, exceeding the $2.14 consensus estimate, while revenue reached $13.41 billion. The company also maintains a quarterly dividend of C$0.60, equivalent to a 3.0% annualized yield.

Viewpoint Investment Partners Corp lifted its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 43.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 43,835 shares of the oil and gas producer's stock after buying an additional 13,200 shares during the period. Viewpoint Investment Partners Corp's holdings in Suncor Energy were worth $2,973,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Suncor Energy in the 2nd quarter valued at approximately $816,551,000. The Manufacturers Life Insurance Company bought a new stake in shares of Suncor Energy in the 2nd quarter worth approximately $790,952,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Suncor Energy by 121.4% in the 1st 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 acquiring an additional 14,304,131 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of Suncor Energy in the 2nd quarter worth approximately $466,810,000. Finally, Bank of America Corp DE acquired a new stake in shares of Suncor Energy during the 2nd quarter worth approximately $351,892,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SU has been the topic of a number of recent research reports. Desjardins upgraded shares of Suncor Energy to a "moderate buy" rating in a research note on Thursday, July 16th. Weiss Ratings raised shares of Suncor Energy from a "buy (b)" rating to a "buy (a-)" rating in a research note on Thursday, October 8th. Morgan Stanley set a $106.00 price target on shares of Suncor Energy in a research report on Wednesday, August 19th. Zacks Research raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 5th. Finally, Wall Street Zen upgraded shares of Suncor Energy from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 17th. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Suncor Energy currently has an average rating of "Buy" and a consensus target price of $79.62.

Suncor Energy Stock Performance

Shares of NYSE:SU opened at $79.50 on Tuesday. The business's fifty day moving average price is $69.97 and its two-hundred day moving average price is $62.47. Suncor Energy Inc. has a fifty-two week low of $38.72 and a fifty-two week high of $80.25. The stock has a market capitalization of $92.99 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 0.27 and a beta of 0.36. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.19. The firm had revenue of $13.41 billion during the quarter, compared to analyst estimates of $11.68 billion. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%. During the same period in the prior year, the company posted $0.71 earnings per share. As a group, analysts predict that Suncor Energy Inc. will post 8.76 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were paid a C$0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, September 4th. Suncor Energy's payout ratio is currently 31.86%.

About Suncor Energy

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta, Canada. Its operations span the energy value chain, including the development, production, upgrading, refining, and marketing of crude oil and petroleum products.

The company is one of Canada's major oil sands producers, with interests in mining and in situ oil sands projects. Suncor produces bitumen and synthetic crude oil and also has conventional oil and offshore production interests. Its upstream portfolio includes operated and non-operated assets in Canada.

Through its downstream operations, Suncor refines crude oil into gasoline, diesel, jet fuel, asphalt, and other petroleum products.

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