Cullen Investment Group LTD. Makes New $1.15 Million Investment in Suncor Energy Inc. (NYSE:SU)

Cullen Investment Group LTD. acquired a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 35,886 shares of the oil and gas producer’s stock, valued at approximately $1,150,000.

A number of other hedge funds have also made changes to their positions in SU. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Suncor Energy by 13.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,045 shares of the oil and gas producer’s stock valued at $393,000 after acquiring an additional 1,382 shares during the last quarter. HighTower Advisors LLC boosted its stake in Suncor Energy by 8.9% during the 1st quarter. HighTower Advisors LLC now owns 31,145 shares of the oil and gas producer’s stock valued at $1,013,000 after purchasing an additional 2,544 shares during the period. BlackRock Inc. boosted its stake in Suncor Energy by 41.9% during the 1st quarter. BlackRock Inc. now owns 927,375 shares of the oil and gas producer’s stock valued at $30,223,000 after purchasing an additional 273,853 shares during the period. Raymond James Trust N.A. boosted its stake in Suncor Energy by 40.4% during the 1st quarter. Raymond James Trust N.A. now owns 12,556 shares of the oil and gas producer’s stock valued at $409,000 after purchasing an additional 3,610 shares during the period. Finally, Sei Investments Co. boosted its stake in Suncor Energy by 20.5% during the 1st quarter. Sei Investments Co. now owns 11,827 shares of the oil and gas producer’s stock valued at $380,000 after purchasing an additional 2,015 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Down 1.4 %

Shares of Suncor Energy stock opened at $37.18 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.26. Suncor Energy Inc. has a 12 month low of $27.59 and a 12 month high of $39.32. The business has a fifty day simple moving average of $35.28 and a 200 day simple moving average of $33.56. The stock has a market cap of $47.86 billion, a PE ratio of 7.91, a price-to-earnings-growth ratio of 3.46 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.13. Suncor Energy had a return on equity of 16.08% and a net margin of 16.33%. The business had revenue of $10.39 billion during the quarter, compared to analysts’ expectations of $8.46 billion. During the same period in the previous year, the firm earned $1.33 earnings per share. Research analysts predict that Suncor Energy Inc. will post 3.63 EPS for the current year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 4th were issued a dividend of $0.406 per share. The ex-dividend date of this dividend was Friday, March 1st. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.39. This represents a $1.62 annualized dividend and a yield of 4.37%. Suncor Energy’s payout ratio is currently 34.26%.

Wall Street Analyst Weigh In

SU has been the subject of several recent analyst reports. Morgan Stanley increased their target price on Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.