Strategic Global Advisors LLC Raises Position in Suncor Energy Inc. $SU

Strategic Global Advisors LLC grew its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 117.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,044 shares of the oil and gas producer’s stock after acquiring an additional 12,470 shares during the period. Strategic Global Advisors LLC’s holdings in Suncor Energy were worth $1,022,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SU. Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of Suncor Energy by 54.9% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 225 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Suncor Energy in the second quarter valued at about $31,000. 1 North Wealth Services LLC purchased a new stake in shares of Suncor Energy in the fourth quarter valued at about $32,000. Smartleaf Asset Management LLC boosted its holdings in shares of Suncor Energy by 95.8% in the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 388 shares in the last quarter. Finally, Accent Capital Management LLC boosted its holdings in shares of Suncor Energy by 37.5% in the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SU. Royal Bank Of Canada lifted their target price on shares of Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, April 1st. ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. The Goldman Sachs Group downgraded shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a report on Friday, June 5th. Zacks Research downgraded shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Finally, Wall Street Zen downgraded shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Suncor Energy has an average rating of “Moderate Buy” and a consensus price target of $71.67.

Suncor Energy Stock Down 0.1%

SU stock opened at $61.56 on Monday. The company has a market cap of $72.69 billion, a P/E ratio of 16.16 and a beta of 0.27. Suncor Energy Inc. has a 52 week low of $37.22 and a 52 week high of $70.29. The company’s 50-day moving average price is $64.94 and its 200 day moving average price is $56.45. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The company had revenue of $10.41 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.During the same period in the prior year, the firm posted $1.31 EPS. On average, research analysts expect that Suncor Energy Inc. will post 7.07 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

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 dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.9%. Suncor Energy’s payout ratio is currently 45.67%.

Suncor Energy Company 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.