Point72 Asset Management L.P. Purchases 241,986 Shares of Suncor Energy Inc. (NYSE:SU)

Point72 Asset Management L.P. grew its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 11.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,367,466 shares of the oil and gas producer’s stock after buying an additional 241,986 shares during the quarter. Point72 Asset Management L.P. owned 0.16% of Suncor Energy worth $49,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AGF Investments Inc. raised its holdings in Suncor Energy by 128.3% in the 1st quarter. AGF Investments Inc. now owns 3,620,782 shares of the oil and gas producer’s stock worth $75,689,000 after purchasing an additional 2,034,507 shares during the period. Manning & Napier Group LLC raised its holdings in Suncor Energy by 6.5% in the 1st quarter. Manning & Napier Group LLC now owns 168,016 shares of the oil and gas producer’s stock worth $3,511,000 after purchasing an additional 10,239 shares during the period. PCJ Investment Counsel Ltd. raised its holdings in Suncor Energy by 13.2% in the 1st quarter. PCJ Investment Counsel Ltd. now owns 424,315 shares of the oil and gas producer’s stock worth $8,869,000 after purchasing an additional 49,500 shares during the period. Franklin Resources Inc. raised its holdings in Suncor Energy by 35.9% in the 1st quarter. Franklin Resources Inc. now owns 6,549,610 shares of the oil and gas producer’s stock worth $136,899,000 after purchasing an additional 1,729,431 shares during the period. Finally, Royal London Asset Management Ltd. bought a new position in Suncor Energy in the 1st quarter worth $67,025,000. 60.45% of the stock is currently owned by hedge funds and other institutional investors.

SU has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target on Suncor Energy from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 30th. National Bank Financial cut their price target on Suncor Energy from C$42.00 to C$41.00 and set a “sector perform” rating for the company in a research note on Monday. Tudor Pickering reiterated a “buy” rating and issued a C$33.00 price target on shares of Suncor Energy in a research note on Friday, June 18th. Royal Bank of Canada increased their price target on Suncor Energy from $31.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 5th. Finally, Scotiabank increased their price target on Suncor Energy from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Thursday, July 15th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $32.42.

Shares of NYSE SU opened at $21.06 on Thursday. The stock’s 50 day moving average is $23.66. The company has a quick ratio of 0.66, a current ratio of 1.09 and a debt-to-equity ratio of 0.42. Suncor Energy Inc. has a 1-year low of $10.67 and a 1-year high of $25.73. The company has a market capitalization of $31.56 billion, a PE ratio of 420.80, a P/E/G ratio of 3.40 and a beta of 1.70.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Sunday, May 2nd. The oil and gas producer reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.05. Suncor Energy had a negative return on equity of 1.35% and a net margin of 0.34%. The company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.30 billion. As a group, equities analysts predict that Suncor Energy Inc. will post 2 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 25th. Stockholders of record on Friday, June 4th were paid a dividend of $0.1707 per share. This is a boost from Suncor Energy’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Thursday, June 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.24%. Suncor Energy’s dividend payout ratio is currently -29.09%.

Suncor Energy Profile

Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.

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Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

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