Suncor Energy Inc. $SU Shares Acquired by Osaic Holdings Inc.

Osaic Holdings Inc. lifted its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 155.2% in the second quarter, Holdings Channel reports. The institutional investor owned 95,051 shares of the oil and gas producer’s stock after buying an additional 57,810 shares during the quarter. Osaic Holdings Inc.’s holdings in Suncor Energy were worth $3,631,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SU. Squarepoint Ops LLC lifted its stake in Suncor Energy by 452.2% in the 2nd quarter. Squarepoint Ops LLC now owns 124,216 shares of the oil and gas producer’s stock worth $4,652,000 after acquiring an additional 101,721 shares in the last quarter. FORA Capital LLC bought a new stake in Suncor Energy in the second quarter valued at $950,000. Headlands Technologies LLC bought a new stake in shares of Suncor Energy during the second quarter worth $31,000. Corient Private Wealth LLC raised its position in shares of Suncor Energy by 82.5% during the second quarter. Corient Private Wealth LLC now owns 1,461,949 shares of the oil and gas producer’s stock worth $54,750,000 after acquiring an additional 660,914 shares during the last quarter. Finally, WealthCollab LLC grew its position in shares of Suncor Energy by 38.5% in the 2nd quarter. WealthCollab LLC now owns 1,701 shares of the oil and gas producer’s stock valued at $64,000 after purchasing an additional 473 shares during the period. 67.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SU. Weiss Ratings reissued a “buy (b)” rating on shares of Suncor Energy in a report on Monday. Wells Fargo & Company began coverage on shares of Suncor Energy in a report on Friday, October 17th. They set an “equal weight” rating for the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $65.00 price objective on shares of Suncor Energy in a research report on Friday, October 3rd. Wall Street Zen upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th. Finally, Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $65.00.

Suncor Energy Stock Up 0.2%

Suncor Energy stock opened at $43.24 on Friday. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $45.60. The stock has a fifty day simple moving average of $42.65 and a two-hundred day simple moving average of $40.88. The company has a current ratio of 1.35, a quick ratio of 0.85 and a debt-to-equity ratio of 0.19. The firm has a market cap of $51.96 billion, a price-to-earnings ratio of 14.18 and a beta of 0.46.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.22. Suncor Energy had a return on equity of 13.01% and a net margin of 10.61%.The business had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.82 billion. During the same period in the previous year, the company posted $1.48 EPS. Equities analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 24th. Investors of record on Wednesday, December 3rd were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, December 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 5.6%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s payout ratio is presently 56.39%.

Suncor Energy 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.