3Chopt Investment Partners LLC Takes Position in Suncor Energy Inc. $SU

3Chopt Investment Partners LLC bought a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 9,135 shares of the oil and gas producer’s stock, valued at approximately $405,000.

Other institutional investors also recently made changes to their positions in the company. One Capital Management LLC bought a new position in Suncor Energy in the 4th quarter worth approximately $940,000. Clear Harbor Asset Management LLC grew its holdings in Suncor Energy by 1.1% in the 4th quarter. Clear Harbor Asset Management LLC now owns 22,840 shares of the oil and gas producer’s stock worth $1,013,000 after buying an additional 250 shares in the last quarter. MUFG Securities EMEA plc bought a new position in Suncor Energy in the 4th quarter worth approximately $19,978,000. Bearing Point Capital LLC grew its holdings in Suncor Energy by 8.6% in the 4th quarter. Bearing Point Capital LLC now owns 179,844 shares of the oil and gas producer’s stock worth $7,978,000 after buying an additional 14,313 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its holdings in Suncor Energy by 217.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 826,617 shares of the oil and gas producer’s stock worth $36,754,000 after buying an additional 566,195 shares in the last quarter. 67.37% of the stock is owned by institutional investors.

Suncor Energy Trading Up 2.2%

Suncor Energy stock opened at $63.74 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. The company has a market capitalization of $75.27 billion, a price-to-earnings ratio of 16.73 and a beta of 0.31. Suncor Energy Inc. has a one year low of $35.93 and a one year high of $70.29. The company’s fifty day moving average price is $65.26 and its two-hundred day moving average price is $55.26.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results 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). The business had revenue of $10.41 billion for the quarter, compared to analyst estimates of $9.22 billion. Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.During the same period in the previous year, the company earned $1.31 earnings per share. On average, analysts forecast that Suncor Energy Inc. will post 7.07 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Thursday, June 4th. Suncor Energy’s dividend payout ratio is presently 46.19%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SU. ATB Cormark Capital Markets raised Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. Zacks Research raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. The Goldman Sachs Group increased their price objective on Suncor Energy from $66.00 to $73.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. Finally, Wall Street Zen upgraded Suncor Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $72.00.

About Suncor Energy

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.