Nitor Capital Management LLC purchased a new position in shares of Suncor Energy Inc. (NYSE:SU – Free Report) (TSE:SU) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 39,445 shares of the oil and gas producer’s stock, valued at approximately $2,117,000. Suncor Energy accounts for approximately 1.4% of Nitor Capital Management LLC’s holdings, making the stock its 15th largest holding.
Several other large investors have also modified their holdings of SU. Formidable Asset Management LLC increased its holdings in shares of Suncor Energy by 1.1% in the 1st quarter. Formidable Asset Management LLC now owns 16,004 shares of the oil and gas producer’s stock valued at $1,058,000 after acquiring an additional 171 shares during the period. Mitchell & Pahl Private Wealth LLC boosted its stake in Suncor Energy by 0.8% during the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 24,278 shares of the oil and gas producer’s stock worth $1,605,000 after purchasing an additional 190 shares during the period. IFP Advisors Inc boosted its stake in Suncor Energy by 22.6% during the 4th quarter. IFP Advisors Inc now owns 1,047 shares of the oil and gas producer’s stock worth $46,000 after purchasing an additional 193 shares during the period. DGS Capital Management LLC grew its position in Suncor Energy by 3.2% during the 4th quarter. DGS Capital Management LLC now owns 6,149 shares of the oil and gas producer’s stock worth $273,000 after purchasing an additional 193 shares during the last quarter. Finally, Bryn Mawr Trust Advisors LLC grew its position in Suncor Energy by 3.5% during the 4th quarter. Bryn Mawr Trust Advisors LLC now owns 5,742 shares of the oil and gas producer’s stock worth $255,000 after purchasing an additional 196 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.
Suncor Energy Stock Up 0.1%
Shares of NYSE:SU opened at $68.46 on Monday. Suncor Energy Inc. has a fifty-two week low of $37.76 and a fifty-two week high of $70.29. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19. The firm’s 50-day simple moving average is $61.02 and its 200-day simple moving average is $61.67. The company has a market cap of $80.83 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 0.49 and a beta of 0.29.
Suncor Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, September 4th. This represents a $2.40 annualized dividend and a yield of 3.5%. Suncor Energy’s payout ratio is presently 32.04%.
Analysts Set New Price Targets
A number of research analysts have commented on the stock. Morgan Stanley set a $106.00 price objective on shares of Suncor Energy in a research note on Wednesday. Zacks Research lowered Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Wall Street Zen downgraded Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research note on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $80.25.
Read Our Latest Research Report on SU
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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