Suncor Energy Inc. $SU Shares Bought by Royal Fund Management LLC

Royal Fund Management LLC grew its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 30.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,079 shares of the oil and gas producer’s stock after buying an additional 17,792 shares during the quarter. Royal Fund Management LLC’s holdings in Suncor Energy were worth $5,096,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC boosted its stake in Suncor Energy by 54.9% during the 4th 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 during the last quarter. 1 North Wealth Services LLC bought a new position in shares of Suncor Energy during the fourth quarter worth about $32,000. Cassaday & Co Wealth Management LLC acquired a new position in Suncor Energy in the first quarter worth about $53,000. Headlands Technologies LLC bought a new stake in Suncor Energy in the second quarter valued at about $31,000. Finally, Accent Capital Management LLC raised its stake in Suncor Energy by 37.5% during the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 225 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of NYSE:SU opened at $65.84 on Thursday. The stock has a market capitalization of $77.74 billion, a P/E ratio of 17.28, a P/E/G ratio of 0.48 and a beta of 0.30. The business has a 50-day moving average of $60.64 and a two-hundred day moving average of $59.89. Suncor Energy Inc. has a fifty-two week low of $37.76 and a fifty-two week high of $70.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92.

Suncor Energy (NYSE:SU) (TSE:SU) last issued 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). 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 during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the previous year, the business posted $1.31 earnings per share. On average, equities research analysts predict that Suncor Energy Inc. will post 7.11 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.6%. Suncor Energy’s dividend payout ratio (DPR) is currently 45.41%.

Analysts Set New Price Targets

SU has been the topic of several research analyst reports. Royal Bank Of Canada raised their price objective on Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 1st. Wall Street Zen raised shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 12th. ATB Cormark Capital Markets upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Desjardins upgraded Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Finally, Scotiabank raised Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $71.67.

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.