Fayez Sarofim & Co. Continues to Hold Position in Suncor Energy Inc. (SU)
Fayez Sarofim & Co. maintained its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,053 shares of the oil and gas producer’s stock at the end of the second quarter. Fayez Sarofim & Co.’s holdings in Suncor Energy were worth $235,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the company. Peapack Gladstone Financial Corp grew its position in shares of Suncor Energy by 0.3% during the 1st quarter. Peapack Gladstone Financial Corp now owns 13,176 shares of the oil and gas producer’s stock valued at $405,000 after acquiring an additional 40 shares during the period. Financial Architects Inc grew its position in shares of Suncor Energy by 1.4% during the 2nd quarter. Financial Architects Inc now owns 6,806 shares of the oil and gas producer’s stock valued at $199,000 after acquiring an additional 93 shares during the period. Keybank National Association OH grew its position in shares of Suncor Energy by 0.6% during the 1st quarter. Keybank National Association OH now owns 18,447 shares of the oil and gas producer’s stock valued at $567,000 after acquiring an additional 103 shares during the period. Gateway Investment Advisers LLC grew its position in shares of Suncor Energy by 0.7% during the 2nd quarter. Gateway Investment Advisers LLC now owns 17,676 shares of the oil and gas producer’s stock valued at $516,000 after acquiring an additional 116 shares during the period. Finally, Bronfman E.L. Rothschild L.P. grew its position in shares of Suncor Energy by 6.0% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 4,224 shares of the oil and gas producer’s stock valued at $130,000 after acquiring an additional 238 shares during the period. 64.05% of the stock is owned by hedge funds and other institutional investors.
Suncor Energy Inc. (SU) opened at 34.13 on Wednesday. Suncor Energy Inc. has a 12-month low of $25.70 and a 12-month high of $34.37. The company has a market capitalization of $56.63 billion, a P/E ratio of 26.44 and a beta of 0.82. The company has a 50-day moving average of $32.34 and a 200 day moving average of $31.04.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Tuesday, September 5th will be given a dividend of $0.2552 per share. This represents a $1.02 annualized dividend and a yield of 3.01%. This is a positive change from Suncor Energy ‘s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Thursday, August 31st. Suncor Energy ‘s payout ratio is 84.43%.
SU has been the subject of a number of research reports. Scotiabank downgraded shares of Suncor Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, June 9th. National Bank Financial initiated coverage on shares of Suncor Energy in a research report on Tuesday, June 27th. They set an “outperform” rating for the company. Piper Jaffray Companies reduced their target price on shares of Suncor Energy from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, July 3rd. Zacks Investment Research raised shares of Suncor Energy from a “sell” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Tuesday, July 4th. Finally, Barclays PLC reissued an “overweight” rating and set a $52.00 target price (up from $47.00) on shares of Suncor Energy in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $42.86.
About Suncor Energy
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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