Texas Capital Bank Wealth Management Services Inc acquired a new stake in Suncor Energy Inc. (NYSE:SU – Free Report) (TSE:SU) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,330 shares of the oil and gas producer’s stock, valued at approximately $447,000.
Other hedge funds also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its stake in Suncor Energy by 121.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer’s stock worth $1,724,954,000 after acquiring an additional 14,304,131 shares during the last quarter. AQR Capital Management LLC raised its position in Suncor Energy by 7,636.8% in the fourth quarter. AQR Capital Management LLC now owns 6,016,483 shares of the oil and gas producer’s stock valued at $267,042,000 after purchasing an additional 5,938,719 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Suncor Energy by 238.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,758,650 shares of the oil and gas producer’s stock valued at $512,987,000 after purchasing an additional 5,469,431 shares during the last quarter. Deutsche Bank AG purchased a new position in shares of Suncor Energy during the 2nd quarter worth $165,381,000. Finally, Alberta Investment Management Corp purchased a new position in shares of Suncor Energy during the 2nd quarter worth $163,386,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on SU shares. Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. Wall Street Zen lowered shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a research report on Friday, June 5th. Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Desjardins raised shares of Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.67.
Suncor Energy Trading Up 1.3%
Shares of NYSE SU opened at $66.69 on Tuesday. Suncor Energy Inc. has a twelve month low of $37.76 and a twelve month high of $70.29. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $60.51 and a 200-day simple moving average of $61.25. The stock has a market capitalization of $78.74 billion, a PE ratio of 12.28, a PEG ratio of 0.49 and a beta of 0.29.
Suncor Energy (NYSE:SU – Get Free Report) (TSE:SU) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.19. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.The firm had revenue of $13.41 billion for the quarter, compared to the consensus estimate of $11.68 billion. During the same quarter in the previous year, the business earned $0.71 EPS. On average, equities analysts forecast that Suncor Energy Inc. will post 7.13 earnings per share for the current year.
Suncor Energy Announces Dividend
The company 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 $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, September 4th. Suncor Energy’s payout ratio is currently 32.04%.
Suncor Energy 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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