Bearing Point Capital LLC Acquires 14,313 Shares of Suncor Energy Inc. $SU

Bearing Point Capital LLC lifted its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 8.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 179,844 shares of the oil and gas producer’s stock after acquiring an additional 14,313 shares during the quarter. Suncor Energy accounts for about 1.2% of Bearing Point Capital LLC’s holdings, making the stock its 28th biggest holding. Bearing Point Capital LLC’s holdings in Suncor Energy were worth $7,978,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SU. AQR Capital Management LLC raised its holdings in Suncor Energy by 14.2% during the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock valued at $959,000 after buying an additional 3,115 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Suncor Energy by 172.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock valued at $77,000 after buying an additional 1,254 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Suncor Energy by 21.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer’s stock valued at $100,000 after buying an additional 464 shares during the last quarter. AXA S.A. raised its holdings in Suncor Energy by 17.2% during the 2nd quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer’s stock valued at $1,883,000 after buying an additional 7,395 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Suncor Energy by 6.4% during the 2nd quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer’s stock valued at $2,514,000 after buying an additional 4,043 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Stock Down 1.5%

Shares of Suncor Energy stock opened at $62.34 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20. The company’s fifty day simple moving average is $65.25 and its two-hundred day simple moving average is $55.04. The company has a market cap of $73.60 billion, a P/E ratio of 16.36 and a beta of 0.31. Suncor Energy Inc. has a 12-month low of $35.29 and a 12-month high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The company had revenue of $10.41 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same period in the previous year, the firm posted $1.31 earnings per share. Research analysts anticipate that Suncor Energy Inc. will post 7.07 EPS for the current year.

Suncor Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Thursday, June 4th. Suncor Energy’s payout ratio is presently 46.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Zacks Research upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Royal Bank Of Canada upped their price target on shares of Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, April 1st. ATB Cormark Capital Markets upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. Wall Street Zen upgraded shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Weiss Ratings upgraded shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Suncor Energy presently has a consensus rating of “Buy” and an average price target of $72.00.

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.