Vise Technologies Inc. Buys New Shares in Suncor Energy Inc. $SU

Key Points

• Vise Technologies initiated a Suncor Energy position of 118,962 shares worth approximately $6.4 million in the second quarter. Institutional investors and hedge funds collectively own 67.37% of Suncor’s stock.
• Analyst sentiment remains positive but mixed: Suncor has a consensus “Moderate Buy” rating and an average price target of $80.25, while some firms recently downgraded the stock to “Hold” or “Neutral.”
• Suncor reported quarterly earnings of $2.33 per share, beating estimates of $2.14, on revenue of $13.41 billion. The company also declared a quarterly dividend of $0.60 per share, equivalent to a 3.5% annual yield.

Vise Technologies Inc. bought a new position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 118,962 shares of the oil and gas producer's stock, valued at approximately $6,386,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in Suncor Energy by 418.9% during the 2nd quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer's stock valued at $26,000 after purchasing an additional 398 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Suncor Energy in the second quarter worth about $31,000. 1 North Wealth Services LLC purchased a new position in shares of Suncor Energy in the fourth quarter worth about $32,000. Accent Capital Management LLC lifted its holdings in shares of Suncor Energy by 37.5% during the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer's stock worth $37,000 after purchasing an additional 225 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in shares of Suncor Energy during the fourth quarter worth about $44,000. Institutional investors and hedge funds own 67.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Zacks Research downgraded shares of Suncor Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Morgan Stanley set a $106.00 price objective on shares of Suncor Energy in a research note on Wednesday. The Goldman Sachs Group downgraded shares of Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 price objective on the stock. in a report on Friday, June 5th. Wall Street Zen lowered shares of Suncor Energy from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. Finally, Weiss Ratings raised shares of Suncor Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Suncor Energy currently has a consensus rating of "Moderate Buy" and an average target price of $80.25.

Suncor Energy Trading Up 0.7%

Suncor Energy stock opened at $67.95 on Friday. The firm has a market cap of $80.23 billion, a PE ratio of 12.51, a P/E/G ratio of 0.49 and a beta of 0.30. Suncor Energy Inc. has a 12 month low of $37.76 and a 12 month high of $70.29. The stock's 50 day simple moving average is $60.88 and its two-hundred day simple moving average is $61.56. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.19. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. The firm had revenue of $13.41 billion during the quarter, compared to analyst estimates of $11.68 billion. During the same period in the previous year, the firm earned $0.71 EPS. Analysts anticipate that Suncor Energy Inc. will post 7.39 earnings per share for the current year.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, September 4th. Suncor Energy's dividend payout ratio (DPR) is currently 32.04%.

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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