Cullen Investment Group LTD. Invests $1.15 Million in Suncor Energy Inc. (NYSE:SU)

Cullen Investment Group LTD. purchased a new stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 35,886 shares of the oil and gas producer's stock, valued at approximately $1,150,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arlington Trust Co LLC purchased a new position in shares of Suncor Energy during the third quarter worth about $29,000. Optiver Holding B.V. purchased a new position in shares of Suncor Energy during the third quarter worth about $29,000. Sunbelt Securities Inc. purchased a new position in shares of Suncor Energy during the first quarter worth about $31,000. Headinvest LLC purchased a new position in shares of Suncor Energy during the third quarter worth about $40,000. Finally, Private Trust Co. NA grew its holdings in shares of Suncor Energy by 38.4% during the third quarter. Private Trust Co. NA now owns 1,222 shares of the oil and gas producer's stock worth $42,000 after purchasing an additional 339 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SU has been the subject of a number of recent analyst reports. StockNews.com upgraded Suncor Energy from a "hold" rating to a "buy" rating in a report on Friday. Morgan Stanley upped their target price on Suncor Energy from $50.00 to $52.00 and gave the company an "overweight" rating in a report on Thursday, March 28th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $52.00.

Suncor Energy Stock Up 1.1 %

SU traded up $0.41 during trading on Tuesday, reaching $37.59. The stock had a trading volume of 5,897,715 shares, compared to its average volume of 4,360,189. The stock's 50 day moving average is $35.39 and its two-hundred day moving average is $33.58. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $48.39 billion, a price-to-earnings ratio of 8.00, a P/E/G ratio of 3.46 and a beta of 1.13. Suncor Energy Inc. has a one year low of $27.59 and a one year high of $39.32.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings data on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.13. Suncor Energy had a return on equity of 16.08% and a net margin of 16.33%. The business had revenue of $10.39 billion during the quarter, compared to the consensus estimate of $8.46 billion. During the same quarter in the prior year, the company earned $1.33 earnings per share. As a group, analysts expect that Suncor Energy Inc. will post 3.63 earnings per share for the current year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 4th were paid a $0.406 dividend. This is a boost from Suncor Energy's previous quarterly dividend of $0.39. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend was Friday, March 1st. Suncor Energy's dividend payout ratio is currently 34.26%.

About Suncor Energy

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.