Corigliano Investment Advisers LLC Takes $17.21 Million Position in Suncor Energy Inc. $SU

Corigliano Investment Advisers LLC acquired a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 388,000 shares of the oil and gas producer’s stock, valued at approximately $17,212,000. Suncor Energy accounts for about 6.1% of Corigliano Investment Advisers LLC’s portfolio, making the stock its 4th biggest position.

Other large investors have also recently modified their holdings of the company. Swiss Life Asset Management Ltd raised its stake in shares of Suncor Energy by 35.0% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 101,192 shares of the oil and gas producer’s stock valued at $4,240,000 after purchasing an additional 26,252 shares during the period. Picton Mahoney Asset Management boosted its stake in Suncor Energy by 314.8% in the 3rd quarter. Picton Mahoney Asset Management now owns 627,313 shares of the oil and gas producer’s stock worth $26,246,000 after purchasing an additional 476,077 shares during the period. Intact Investment Management Inc. grew its holdings in Suncor Energy by 36.3% during the 4th quarter. Intact Investment Management Inc. now owns 1,695,160 shares of the oil and gas producer’s stock valued at $75,236,000 after buying an additional 451,110 shares in the last quarter. American Century Companies Inc. grew its holdings in Suncor Energy by 2.1% during the 3rd quarter. American Century Companies Inc. now owns 896,556 shares of the oil and gas producer’s stock valued at $37,519,000 after buying an additional 18,231 shares in the last quarter. Finally, SCP Investment LP bought a new stake in shares of Suncor Energy during the third quarter valued at about $1,915,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. ATB Cormark Capital Markets upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Weiss Ratings downgraded shares of Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. The Goldman Sachs Group lowered shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a research report on Friday, June 5th. Finally, Royal Bank Of Canada upped their price target on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, April 1st. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Suncor Energy presently has an average rating of “Moderate Buy” and a consensus price target of $71.67.

Suncor Energy Stock Down 3.4%

SU stock opened at $56.19 on Thursday. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20. The company’s 50 day moving average is $64.46 and its 200 day moving average is $56.74. The stock has a market cap of $66.34 billion, a price-to-earnings ratio of 14.75 and a beta of 0.27. Suncor Energy Inc. has a 1-year low of $37.22 and a 1-year high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The company had revenue of $10.41 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the previous year, the firm earned $1.31 earnings per share. Sell-side analysts predict that Suncor Energy Inc. will post 7.07 EPS 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. Stockholders of record on Thursday, June 4th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Thursday, June 4th. Suncor Energy’s payout ratio is currently 45.67%.

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.