Suncor Energy Inc. (SU) Shares Gap Up to $28.25
Suncor Energy Inc. (NYSE:SU) shares gapped up before the market opened on Thursday . The stock had previously closed at $28.11, but opened at $28.25. Suncor Energy shares last traded at $28.72, with a volume of 1,548,632 shares changing hands.
A number of analysts have recently weighed in on SU shares. Vetr upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating and set a $39.62 target price for the company in a research note on Thursday, June 23rd. Scotiabank restated an “outperform” rating and issued a $37.00 target price on shares of Suncor Energy in a research note on Saturday, June 25th. Royal Bank Of Canada restated an “outperform” rating and issued a $41.00 target price on shares of Suncor Energy in a research note on Sunday, May 1st. Zacks Investment Research upgraded Suncor Energy from a “sell” rating to a “hold” rating in a research note on Friday, June 24th. Finally, Simmons lowered their target price on Suncor Energy from $40.00 to $39.00 and set an “overweight” rating for the company in a research note on Tuesday, July 5th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Suncor Energy currently has a consensus rating of “Buy” and a consensus price target of $38.59.
The stock has a 50-day moving average of $27.51 and a 200-day moving average of $26.70. The company’s market capitalization is $47.80 billion.
Suncor Energy (NYSE:SU) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.21) by $0.15. During the same period last year, the company posted $0.63 earnings per share. Equities research analysts predict that Suncor Energy Inc. will post ($0.34) earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 26th. Investors of record on Tuesday, September 6th will be given a dividend of $0.2194 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $0.88 annualized dividend and a dividend yield of 3.06%.
Several hedge funds have made changes to their positions in SU. Trexquant Investment LP acquired a new stake in shares of Suncor Energy during the fourth quarter valued at $1,135,000. Bridgewater Associates LP increased its stake in shares of Suncor Energy by 10.6% in the fourth quarter. Bridgewater Associates LP now owns 418,000 shares of the company’s stock valued at $10,746,000 after buying an additional 40,200 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Suncor Energy by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,500,280 shares of the company’s stock valued at $90,307,000 after buying an additional 16,041 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of Suncor Energy during the fourth quarter valued at $99,722,000. Finally, I.G. Investment Management LTD. increased its stake in shares of Suncor Energy by 5.7% in the fourth quarter. I.G. Investment Management LTD. now owns 6,780,797 shares of the company’s stock valued at $175,135,000 after buying an additional 363,655 shares in the last quarter.
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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