Raymond James Financial Services Advisors Inc. bought a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 62,885 shares of the oil and gas producer’s stock, valued at approximately $1,060,000.
Several other hedge funds have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Suncor Energy by 10.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 40,611,177 shares of the oil and gas producer’s stock valued at $641,656,000 after purchasing an additional 3,701,728 shares during the period. Public Investment Fund purchased a new position in shares of Suncor Energy in the first quarter valued at $481,072,000. The Manufacturers Life Insurance Company boosted its stake in shares of Suncor Energy by 18.1% in the first quarter. The Manufacturers Life Insurance Company now owns 16,653,195 shares of the oil and gas producer’s stock valued at $263,121,000 after purchasing an additional 2,556,285 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its holdings in Suncor Energy by 10.0% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 15,200,000 shares of the oil and gas producer’s stock valued at $239,851,000 after acquiring an additional 1,377,400 shares in the last quarter. Finally, APG Asset Management N.V. raised its holdings in Suncor Energy by 41.9% in the first quarter. APG Asset Management N.V. now owns 6,809,285 shares of the oil and gas producer’s stock valued at $196,600,000 after acquiring an additional 2,011,292 shares in the last quarter. Institutional investors and hedge funds own 66.12% of the company’s stock.
Several research firms recently issued reports on SU. Raymond James reaffirmed a “buy” rating on shares of Suncor Energy in a report on Wednesday, May 6th. Scotiabank raised shares of Suncor Energy from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, June 11th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Suncor Energy in a report on Friday, July 24th. UBS Group upped their price target on shares of Suncor Energy from $24.50 to $42.00 and gave the company a “buy” rating in a report on Monday, June 29th. Finally, ValuEngine raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, July 23rd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $37.11.
SU stock opened at $15.76 on Friday. The company has a quick ratio of 0.63, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. Suncor Energy Inc. has a fifty-two week low of $9.60 and a fifty-two week high of $34.56. The firm’s 50-day simple moving average is $17.00 and its 200 day simple moving average is $20.52. The stock has a market cap of $24.04 billion, a PE ratio of -5.95 and a beta of 1.42.
Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Wednesday, July 22nd. The oil and gas producer reported ($0.98) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.54). Suncor Energy had a positive return on equity of 0.44% and a negative net margin of 17.17%. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $4.07 billion. Equities analysts forecast that Suncor Energy Inc. will post -0.89 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a $0.1565 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend is Thursday, September 3rd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.15. Suncor Energy’s dividend payout ratio (DPR) is 28.77%.
Suncor Energy Company Profile
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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