Assenagon Asset Management S.A. Acquires 573,442 Shares of Suncor Energy Inc. $SU

Assenagon Asset Management S.A. raised its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1,498.3% during the first quarter, Holdings Channel reports. The firm owned 611,716 shares of the oil and gas producer’s stock after buying an additional 573,442 shares during the period. Assenagon Asset Management S.A.’s holdings in Suncor Energy were worth $40,436,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SU. Swiss Life Asset Management Ltd lifted its position in shares of Suncor Energy by 35.0% during the third quarter. Swiss Life Asset Management Ltd now owns 101,192 shares of the oil and gas producer’s stock worth $4,240,000 after purchasing an additional 26,252 shares in the last quarter. Picton Mahoney Asset Management grew its stake in shares of Suncor Energy by 314.8% during the third quarter. Picton Mahoney Asset Management now owns 627,313 shares of the oil and gas producer’s stock valued at $26,246,000 after purchasing an additional 476,077 shares during the last quarter. Intact Investment Management Inc. increased its holdings in shares of Suncor Energy by 36.3% in the fourth quarter. Intact Investment Management Inc. now owns 1,695,160 shares of the oil and gas producer’s stock valued at $75,236,000 after purchasing an additional 451,110 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Suncor Energy by 2.1% in the third quarter. American Century Companies Inc. now owns 896,556 shares of the oil and gas producer’s stock valued at $37,519,000 after purchasing an additional 18,231 shares in the last quarter. Finally, Cantor Fitzgerald L. P. bought a new position in Suncor Energy in the 3rd quarter worth approximately $1,067,000. 67.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group lowered Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target on the stock. in a research note on Friday, June 5th. Royal Bank Of Canada lifted their price objective on Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. ATB Cormark Capital Markets raised Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. Weiss Ratings downgraded shares of Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. Finally, Zacks Research lowered shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.67.

Suncor Energy Trading Down 0.2%

NYSE SU opened at $54.33 on Friday. The stock’s 50-day moving average is $63.35 and its 200-day moving average is $57.19. Suncor Energy Inc. has a one year low of $37.22 and a one year high of $70.29. 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 firm has a market cap of $64.15 billion, a P/E ratio of 14.26 and a beta of 0.27.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results 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 firm had revenue of $10.41 billion for the quarter, compared to the consensus estimate of $9.22 billion. Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.During the same quarter last year, the company posted $1.31 EPS. Sell-side analysts anticipate that Suncor Energy Inc. will post 7.07 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were paid a $0.60 dividend. The ex-dividend date was Thursday, June 4th. This represents a $2.40 annualized dividend and a yield of 4.4%. Suncor Energy’s payout ratio is presently 45.67%.

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.