Moody Aldrich Partners LLC Acquires 60,700 Shares of Suncor Energy Inc. $SU

Moody Aldrich Partners LLC acquired a new stake in Suncor Energy Inc. (NYSE:SU – Free Report) (TSE:SU) during the third quarter, according to its most recent filing with the SEC. The firm acquired 60,700 shares of the oil and gas producer’s stock, valued at approximately $4,126,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SU. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Suncor Energy during the second quarter valued at $816,551,000. The Manufacturers Life Insurance Company bought a new position in Suncor Energy in the second quarter valued at about $790,952,000. Arrowstreet Capital Limited Partnership boosted its holdings in Suncor Energy by 121.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer’s stock valued at $1,724,954,000 after acquiring an additional 14,304,131 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Suncor Energy in the second quarter worth about $466,810,000. Finally, Bank of America Corp DE acquired a new stake in Suncor Energy in the second quarter worth about $351,892,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SU shares. Desjardins raised Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Morgan Stanley set a $106.00 target price on shares of Suncor Energy in a research note on Wednesday, August 19th. Weiss Ratings upgraded shares of Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. Finally, Wall Street Zen raised shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 17th. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $79.62.

Check Out Our Latest Report on SU

Suncor Energy Price Performance

Shares of SU stock opened at $77.56 on Thursday. Suncor Energy Inc. has a 12-month low of $38.72 and a 12-month high of $80.25. The firm has a market capitalization of $90.71 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 0.27 and a beta of 0.36. 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 has a fifty day moving average of $70.62 and a 200-day moving average of $62.95.

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 analysts’ expectations of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same quarter in the prior year, the company earned $0.71 EPS. On average, equities research analysts forecast that Suncor Energy Inc. will post 8.76 earnings per share for the current year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were issued a dividend of C$0.60 per share. The ex-dividend date was Friday, September 4th. This represents a $2.40 annualized dividend and a yield of 3.1%. Suncor Energy’s payout ratio is currently 31.86%.

Suncor Energy Company Profile

(Free Report)

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta, Canada. Its operations span the energy value chain, including the development, production, upgrading, refining, and marketing of crude oil and petroleum products.

The company is one of Canada’s major oil sands producers, with interests in mining and in situ oil sands projects. Suncor produces bitumen and synthetic crude oil and also has conventional oil and offshore production interests. Its upstream portfolio includes operated and non-operated assets in Canada.

Through its downstream operations, Suncor refines crude oil into gasoline, diesel, jet fuel, asphalt, and other petroleum products.

See Also

Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

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