Silvercrest Asset Management Group LLC Has $3.82 Million Position in Suncor Energy Inc. (NYSE:SU)

Silvercrest Asset Management Group LLC raised its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 5.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,052 shares of the oil and gas producer’s stock after buying an additional 5,265 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Suncor Energy were worth $3,819,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Principal Financial Group Inc. grew its position in shares of Suncor Energy by 39.9% in the 4th quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock valued at $346,298,000 after purchasing an additional 2,767,043 shares during the period. Jupiter Asset Management Ltd. grew its position in shares of Suncor Energy by 2,061.8% in the 4th quarter. Jupiter Asset Management Ltd. now owns 2,438,291 shares of the oil and gas producer’s stock valued at $86,990,000 after purchasing an additional 2,325,503 shares during the period. Fisher Asset Management LLC grew its position in shares of Suncor Energy by 97.4% in the 4th quarter. Fisher Asset Management LLC now owns 3,734,572 shares of the oil and gas producer’s stock valued at $133,250,000 after purchasing an additional 1,842,791 shares during the period. Geode Capital Management LLC grew its position in shares of Suncor Energy by 29.5% in the 4th quarter. Geode Capital Management LLC now owns 7,629,169 shares of the oil and gas producer’s stock valued at $278,537,000 after purchasing an additional 1,737,573 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Suncor Energy by 104.2% in the 4th quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer’s stock valued at $110,017,000 after purchasing an additional 1,573,726 shares during the period. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SU shares. Scotiabank upgraded Suncor Energy to a “hold” rating in a research report on Wednesday, March 19th. Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. StockNews.com lowered Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, April 17th. Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Finally, Bank of America initiated coverage on Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating for the company. Five analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.20.

Suncor Energy Trading Down 0.8%

NYSE:SU opened at $35.38 on Tuesday. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $41.95. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average price of $35.67 and a two-hundred day moving average price of $37.31. The company has a market cap of $43.63 billion, a P/E ratio of 10.26, a price-to-earnings-growth ratio of 2.94 and a beta of 0.79.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. The firm had revenue of $9.10 billion during the quarter, compared to the consensus estimate of $13.39 billion. During the same quarter in the prior year, the firm posted $1.41 EPS. As a group, analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th will be paid a dividend of $0.4133 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.67%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio is currently 45.53%.

Suncor Energy Company Profile

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.