Evolve Private Wealth LLC bought a new stake in Suncor Energy Inc. (NYSE:SU – Free Report) (TSE:SU) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 31,233 shares of the oil and gas producer’s stock, valued at approximately $1,677,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc boosted its stake in Suncor Energy by 418.9% during the second quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 398 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Suncor Energy in the 2nd quarter valued at $31,000. 1 North Wealth Services LLC acquired a new position in shares of Suncor Energy in the 4th quarter valued at $32,000. Accent Capital Management LLC lifted its holdings in shares of Suncor Energy by 37.5% during the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 225 shares during the period. Finally, Summit Securities Group LLC bought a new position in shares of Suncor Energy during the 4th quarter worth about $44,000. 67.37% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on SU. Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Wall Street Zen cut shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Desjardins upgraded Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Scotiabank raised Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Finally, The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price for the company. in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average target price of $80.25.
Suncor Energy Trading Up 0.8%
Shares of SU stock opened at $68.46 on Friday. Suncor Energy Inc. has a 12-month low of $37.76 and a 12-month high of $70.29. The company has a market capitalization of $80.83 billion, a P/E ratio of 12.61, a P/E/G ratio of 0.49 and a beta of 0.30. The firm has a 50-day moving average price of $61.02 and a 200 day moving average price of $61.61. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19.
Suncor Energy (NYSE:SU – Get Free Report) (TSE:SU) last released its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.19. The firm had revenue of $13.41 billion for the quarter, compared to analyst estimates of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same period in the previous year, the business earned $0.71 earnings per share. Research analysts forecast that Suncor Energy Inc. will post 7.39 earnings per share for the current fiscal year.
Suncor Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, September 4th. Suncor Energy’s payout ratio is presently 32.04%.
Suncor Energy Company 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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