Life Cycle Investment Partners Ltd Takes Position in Suncor Energy Inc. $SU

Life Cycle Investment Partners Ltd purchased a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the fourth quarter, HoldingsChannel reports. The firm purchased 649,444 shares of the oil and gas producer’s stock, valued at approximately $28,862,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cumberland Partners Ltd acquired a new stake in shares of Suncor Energy in the fourth quarter valued at approximately $294,000. Global Retirement Partners LLC raised its position in shares of Suncor Energy by 63.4% in the fourth quarter. Global Retirement Partners LLC now owns 6,026 shares of the oil and gas producer’s stock valued at $267,000 after buying an additional 2,338 shares in the last quarter. Burling Wealth Partners LLC raised its position in shares of Suncor Energy by 23.3% in the fourth quarter. Burling Wealth Partners LLC now owns 60,834 shares of the oil and gas producer’s stock valued at $2,699,000 after buying an additional 11,507 shares in the last quarter. IFP Advisors Inc raised its position in shares of Suncor Energy by 22.6% in the fourth quarter. IFP Advisors Inc now owns 1,047 shares of the oil and gas producer’s stock valued at $46,000 after buying an additional 193 shares in the last quarter. Finally, Cullen Frost Bankers Inc. raised its position in shares of Suncor Energy by 4.9% in the fourth quarter. Cullen Frost Bankers Inc. now owns 8,601 shares of the oil and gas producer’s stock valued at $382,000 after buying an additional 400 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SU. Wall Street Zen upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Royal Bank Of Canada lifted their price objective on shares of Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. Finally, The Goldman Sachs Group lifted their price objective on shares of Suncor Energy from $66.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $72.00.

Suncor Energy Stock Performance

NYSE SU opened at $67.34 on Friday. The firm’s fifty day moving average price is $64.86 and its two-hundred day moving average price is $54.22. The stock has a market cap of $79.52 billion, a PE ratio of 17.68 and a beta of 0.31. Suncor Energy Inc. has a fifty-two week low of $34.99 and a fifty-two week high of $70.29. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The company had revenue of $10.41 billion during the quarter, compared to analyst estimates of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same quarter in the previous year, the company earned $1.31 earnings per share. On average, equities analysts expect that Suncor Energy Inc. will post 6.79 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Thursday, June 4th. Suncor Energy’s dividend payout ratio is presently 46.19%.

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.