Assetmark Inc. Buys 10,219 Shares of Suncor Energy Inc. $SU

Assetmark Inc. lifted its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 55.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 28,681 shares of the oil and gas producer’s stock after acquiring an additional 10,219 shares during the quarter. Assetmark Inc.’s holdings in Suncor Energy were worth $1,896,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. AQR Capital Management LLC raised its position in Suncor Energy by 14.2% in the first quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock worth $959,000 after acquiring an additional 3,115 shares during the period. Geneos Wealth Management Inc. lifted its stake in Suncor Energy by 172.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock worth $77,000 after purchasing an additional 1,254 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Suncor Energy by 21.1% during the second 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 period. AXA S.A. grew its stake in Suncor Energy by 17.2% in the 2nd quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer’s stock worth $1,883,000 after buying an additional 7,395 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in Suncor Energy by 6.4% in the second quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer’s stock worth $2,514,000 after acquiring an additional 4,043 shares in the last quarter. 67.37% of the stock is owned by institutional investors.

Suncor Energy Stock Up 2.5%

SU stock opened at $66.35 on Friday. The business has a 50 day moving average of $60.96 and a 200 day moving average of $59.33. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The firm has a market cap of $78.34 billion, a PE ratio of 17.41 and a beta of 0.30. Suncor Energy Inc. has a twelve month low of $37.76 and a twelve month high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The firm had revenue of $10.41 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the company posted $1.31 earnings per share. On average, research analysts forecast that Suncor Energy Inc. will post 6.9 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 45.67%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Zacks Research upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Desjardins raised shares of Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Finally, Royal Bank Of Canada increased their target price 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. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Suncor Energy has a consensus rating of “Buy” and a consensus target price of $71.67.

Suncor Energy 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.