Summerhill Capital Management lnc. purchased a new stake in Suncor Energy Inc. (NYSE:SU – Free Report) (TSE:SU) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,761 shares of the oil and gas producer’s stock, valued at approximately $842,000. Suncor Energy makes up approximately 0.7% of Summerhill Capital Management lnc.’s portfolio, making the stock its 22nd largest holding.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC grew its position in shares of Suncor Energy by 54.9% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 225 shares in the last quarter. 1 North Wealth Services LLC acquired a new stake in Suncor Energy during the fourth quarter worth approximately $32,000. Headlands Technologies LLC acquired a new stake in Suncor Energy during the second quarter worth approximately $31,000. Accent Capital Management LLC increased its stake in 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, Maseco LLP bought a new position in Suncor Energy during the 4th quarter worth $39,000. Institutional investors and hedge funds own 67.37% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the company. Royal Bank Of Canada upped their target price on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, April 1st. Wall Street Zen cut Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. Finally, ATB Cormark Capital Markets upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $71.67.
Suncor Energy Trading Down 0.9%
Shares of Suncor Energy stock opened at $53.87 on Friday. The firm’s 50 day moving average is $63.17 and its 200 day moving average is $57.17. The firm has a market capitalization of $63.60 billion, a PE ratio of 14.14 and a beta of 0.27. Suncor Energy Inc. has a 1 year low of $37.22 and a 1 year high of $70.29. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20.
Suncor Energy (NYSE:SU – Get Free Report) (TSE:SU) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The company had revenue of $10.41 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the previous year, the company earned $1.31 EPS. Equities research analysts forecast that Suncor Energy Inc. will post 7.07 earnings per share for the current fiscal year.
Suncor Energy Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, June 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.5%. Suncor Energy’s dividend payout ratio is 45.67%.
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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