Quantbot Technologies LP Acquires 25,393 Shares of Suncor Energy Inc. $SU

Quantbot Technologies LP grew its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 101.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,453 shares of the oil and gas producer’s stock after acquiring an additional 25,393 shares during the quarter. Quantbot Technologies LP’s holdings in Suncor Energy were worth $2,109,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Richardson Financial Services Inc. increased its position in Suncor Energy by 64.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 275 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Suncor Energy in the second quarter valued at approximately $31,000. Hanson & Doremus Investment Management grew its stake in shares of Suncor Energy by 143.5% during the third quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 465 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Suncor Energy by 95.8% during the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 388 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of Suncor Energy during the second quarter worth $37,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Trading Down 1.1%

NYSE SU opened at $57.15 on Wednesday. The firm has a market capitalization of $68.01 billion, a PE ratio of 16.47 and a beta of 0.43. The business’s 50-day moving average price is $51.04 and its two-hundred day moving average price is $45.07. The company has a current ratio of 1.39, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $58.47.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.79 billion. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.During the same period last year, the company earned $1.25 earnings per share. On average, analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be issued a dividend of $0.60 per share. The ex-dividend date is Wednesday, March 4th. This represents a $2.40 annualized dividend and a yield of 4.2%. Suncor Energy’s dividend payout ratio (DPR) is presently 49.57%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group raised their price objective on Suncor Energy from $48.00 to $54.00 and gave the company a “buy” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. upgraded Suncor Energy from a “neutral” rating to an “overweight” rating and increased their target price for the company from $46.15 to $54.00 in a research report on Tuesday, January 20th. Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a report on Monday, December 29th. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Finally, Royal Bank Of Canada lifted their target price on shares of Suncor Energy from $69.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $61.00.

About Suncor Energy

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.