Northwestern Mutual Wealth Management Co. purchased a new stake in Suncor Energy Inc. (NYSE:SU – Free Report) (TSE:SU) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 34,885 shares of the oil and gas producer’s stock, valued at approximately $1,873,000.
Several other hedge funds have also added to or reduced their stakes in SU. Versant Capital Management Inc raised its position in shares of Suncor Energy by 418.9% in the second quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 398 shares during the period. Headlands Technologies LLC bought a new stake in shares of Suncor Energy during the 2nd quarter worth about $31,000. 1 North Wealth Services LLC bought a new stake in shares of Suncor Energy during the 4th quarter worth about $32,000. Accent Capital Management LLC grew its stake in Suncor Energy by 37.5% in the 4th 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, Summit Securities Group LLC acquired a new position in Suncor Energy in the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 67.37% of the company’s stock.
Analyst Ratings Changes
Several research firms recently weighed in on SU. Zacks Research cut Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Desjardins raised Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. Wall Street Zen cut Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Morgan Stanley set a $106.00 target price on Suncor Energy in a report on Wednesday, August 19th. Finally, Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. One 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $80.25.
Suncor Energy Trading Down 1.6%
Shares of NYSE:SU opened at $67.35 on Tuesday. The business’s 50 day simple moving average is $61.17 and its 200 day simple moving average is $61.77. Suncor Energy Inc. has a 1 year low of $37.76 and a 1 year high of $70.29. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08. The company has a market capitalization of $79.53 billion, a P/E ratio of 12.40, a P/E/G ratio of 0.49 and a beta of 0.29.
Suncor Energy (NYSE:SU – Get Free Report) (TSE:SU) last released its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.19. The firm had revenue of $13.41 billion during the quarter, compared to the consensus estimate of $11.68 billion. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.During the same period in the prior year, the company posted $0.71 EPS. On average, research analysts anticipate that Suncor Energy Inc. will post 7.39 EPS for the current fiscal year.
Suncor Energy Announces Dividend
The business 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. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.6%. Suncor Energy’s dividend payout ratio is 32.04%.
About Suncor Energy
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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