SIR Capital Management L.P. Takes $16.07 Million Position in Suncor Energy Inc. $SU

SIR Capital Management L.P. acquired a new stake in shares of Suncor Energy Inc. (NYSE:SUFree Report) (TSE:SU) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 362,318 shares of the oil and gas producer’s stock, valued at approximately $16,072,000. Suncor Energy comprises approximately 1.8% of SIR Capital Management L.P.’s holdings, making the stock its 20th biggest holding.

Other large investors have also recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC grew its holdings in shares of Suncor Energy by 54.9% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 225 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Suncor Energy by 95.8% during the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 388 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Suncor Energy during the second quarter valued at $31,000. Accent Capital Management LLC grew 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 valued at $37,000 after buying an additional 225 shares during the last quarter. Finally, Maseco LLP purchased a new stake in shares of Suncor Energy during the fourth quarter valued at $39,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Price Performance

Shares of SU opened at $61.56 on Friday. The business’s 50-day moving average is $64.94 and its two-hundred day moving average is $56.36. The company has a market capitalization of $72.69 billion, a P/E ratio of 16.16 and a beta of 0.27. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42. Suncor Energy Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $70.29.

Suncor Energy (NYSE:SUGet Free Report) (TSE:SU) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.04). The company 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 in the prior year, the business posted $1.31 earnings per share. Research analysts predict that Suncor Energy Inc. will post 7.07 earnings per share for the current year.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, June 4th. Suncor Energy’s dividend payout ratio is presently 45.67%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SU shares. Wall Street Zen lowered shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. Royal Bank Of Canada increased their price target on Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. Weiss Ratings downgraded Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. Finally, The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target on the stock. in a research report on Friday, June 5th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Suncor Energy has a consensus rating of “Moderate Buy” and an average price target of $71.67.

View Our Latest Research Report on Suncor Energy

About Suncor Energy

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

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