Swiss National Bank Has $267.05 Million Stake in Suncor Energy Inc. $SU

Key Points

• Swiss National Bank increased its stake in Suncor Energy by 26.2% in the first quarter, ending with 4.04 million shares valued at about $267.05 million.
• Suncor Energy reported Q1 earnings of $1.41 per share, missing analyst expectations, but revenue came in above estimates at $10.41 billion.
• The company paid a quarterly dividend of $0.60 per share, equal to a 3.8% annualized yield, while analysts currently rate the stock a consensus Buy with an average target price of $71.67.

Swiss National Bank raised its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 26.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,043,492 shares of the oil and gas producer's stock after acquiring an additional 838,900 shares during the quarter. Swiss National Bank owned about 0.34% of Suncor Energy worth $267,051,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC raised its position in shares of Suncor Energy by 14.2% in the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer's stock worth $959,000 after acquiring an additional 3,115 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of 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 purchasing an additional 1,254 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of 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 purchasing an additional 464 shares in the last quarter. AXA S.A. boosted its position in shares of 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 purchasing an additional 7,395 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in Suncor Energy by 6.4% during the second quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer's stock worth $2,514,000 after purchasing an additional 4,043 shares during the period. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Stock Performance

Shares of SU opened at $62.45 on Friday. Suncor Energy Inc. has a one year low of $37.76 and a one year high of $70.29. The company has a market cap of $73.73 billion, a PE ratio of 16.39 and a beta of 0.30. The stock has a 50-day moving average of $61.11 and a 200-day moving average of $58.68. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing analysts' consensus estimates of $1.45 by ($0.04). The firm had revenue of $10.41 billion for the quarter, compared to analyst estimates of $9.22 billion. Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.During the same period last year, the company posted $1.31 earnings per share. On average, equities research analysts predict that Suncor Energy Inc. will post 6.9 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, June 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.8%. Suncor Energy's payout ratio is currently 45.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Weiss Ratings downgraded Suncor Energy from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday. Scotiabank upgraded Suncor Energy to a "strong-buy" rating in a report on Friday, June 26th. Desjardins raised shares of Suncor Energy to a "moderate buy" rating in a research report on Thursday. Royal Bank Of Canada lifted their price objective on shares of Suncor Energy from $75.00 to $89.00 and gave the company an "outperform" 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 research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price 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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