Clark Capital Management Group Inc. Grows Position in Suncor Energy Inc. $SU

Clark Capital Management Group Inc. raised its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 60.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,302,198 shares of the oil and gas producer’s stock after purchasing an additional 492,138 shares during the quarter. Clark Capital Management Group Inc. owned 0.11% of Suncor Energy worth $57,766,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SU. AQR Capital Management LLC raised its holdings in shares of Suncor Energy by 14.2% in the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock worth $959,000 after purchasing an additional 3,115 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Suncor Energy by 172.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock worth $77,000 after purchasing an additional 1,254 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Suncor Energy by 21.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer’s stock worth $100,000 after purchasing an additional 464 shares during the period. AXA S.A. raised its holdings in shares of Suncor Energy by 17.2% during the 2nd quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer’s stock valued at $1,883,000 after buying an additional 7,395 shares during the period. Finally, NewEdge Advisors LLC raised its holdings in shares of Suncor Energy by 6.4% during the 2nd quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer’s stock valued at $2,514,000 after buying an additional 4,043 shares during the period. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Stock Performance

Shares of NYSE:SU opened at $58.14 on Wednesday. The company has a market cap of $68.65 billion, a P/E ratio of 15.26 and a beta of 0.27. 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 Inc. has a one year low of $37.22 and a one year high of $70.29. The business’s 50-day simple moving average is $64.66 and its 200 day simple moving average is $56.65.

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 business had revenue of $10.41 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the business earned $1.31 EPS. On average, sell-side analysts forecast that Suncor Energy Inc. will post 7.07 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Thursday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is 45.41%.

Wall Street Analyst Weigh In

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

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.