Old West Investment Management LLC Makes New $2.83 Million Investment in Suncor Energy Inc. $SU

Old West Investment Management LLC acquired a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the third quarter, Holdings Channel.com reports. The fund acquired 67,615 shares of the oil and gas producer’s stock, valued at approximately $2,827,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Savant Capital LLC grew its stake in shares of Suncor Energy by 8.3% in the 3rd quarter. Savant Capital LLC now owns 15,432 shares of the oil and gas producer’s stock worth $645,000 after buying an additional 1,187 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its stake in shares of Suncor Energy by 5.9% in the third quarter. Ashton Thomas Private Wealth LLC now owns 60,256 shares of the oil and gas producer’s stock worth $2,519,000 after acquiring an additional 3,371 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in shares of Suncor Energy by 3,140.1% during the third quarter. Cornerstone Planning Group LLC now owns 4,925 shares of the oil and gas producer’s stock valued at $206,000 after acquiring an additional 4,773 shares in the last quarter. Simmons Bank raised its position in shares of Suncor Energy by 4.5% in the 3rd quarter. Simmons Bank now owns 49,400 shares of the oil and gas producer’s stock worth $2,065,000 after purchasing an additional 2,122 shares during the last quarter. Finally, Atlantic Union Bankshares Corp boosted its stake in Suncor Energy by 55.5% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 1,555 shares of the oil and gas producer’s stock worth $65,000 after purchasing an additional 555 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Up 1.3%

Suncor Energy stock opened at $53.82 on Friday. Suncor Energy Inc. has a 52-week low of $30.79 and a 52-week high of $55.30. The company has a market cap of $64.24 billion, a P/E ratio of 15.51 and a beta of 0.46. The company has a quick ratio of 0.85, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. The business has a 50-day simple moving average of $46.89 and a two-hundred day simple moving average of $43.03.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. The company had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.79 billion. During the same period in the prior year, the firm posted $1.25 EPS. Analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be paid a $0.60 dividend. The ex-dividend date is Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.5%. Suncor Energy’s dividend payout ratio (DPR) is presently 49.57%.

Wall Street Analyst Weigh In

SU has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised shares of Suncor Energy from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $46.15 to $54.00 in a report on Tuesday, January 20th. Royal Bank Of Canada increased their target price on Suncor Energy from $69.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday. Zacks Research cut Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. The Goldman Sachs Group increased their price objective on Suncor Energy from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Finally, Raymond James Financial upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.00.

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.