Shares of Suncor Energy Inc. (NYSE:SU – Get Free Report) (TSE:SU) saw unusually-strong trading volume on Thursday . 10,676,178 shares traded hands during trading, an increase of 128% from the previous session’s volume of 4,689,770 shares.The stock last traded at $68.7790 and had previously closed at $68.39.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 29th. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Scotiabank raised Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Desjardins upgraded Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Finally, The Goldman Sachs Group lowered shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price for the company. in a report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $80.25.
Read Our Latest Stock Analysis on SU
Suncor Energy Stock Up 0.1%
Suncor Energy (NYSE:SU – Get Free Report) (TSE:SU) last released its quarterly earnings data 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 business 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 quarter in the prior year, the company posted $0.71 earnings per share. As a group, equities research analysts predict that Suncor Energy Inc. will post 7.39 EPS for the current fiscal year.
Suncor Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 32.04%.
Hedge Funds Weigh In On Suncor Energy
Institutional investors and hedge funds have recently modified their holdings of the business. Versant Capital Management Inc lifted its stake in shares of Suncor Energy by 418.9% in the 2nd quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 398 shares during the last quarter. Continuum Advisory LLC purchased a new stake in Suncor Energy in the second quarter valued at approximately $27,000. Headlands Technologies LLC acquired a new position in Suncor Energy during the second quarter worth $31,000. 1 North Wealth Services LLC acquired a new stake in Suncor Energy during the fourth quarter worth about $32,000. Finally, Accent Capital Management LLC grew its position in shares of 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 worth $37,000 after acquiring an additional 225 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.
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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