Goehring & Rozencwajg Associates LLC Buys 1,112,774 Shares of Suncor Energy Inc. $SU

Goehring & Rozencwajg Associates LLC lifted its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 153.0% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,840,155 shares of the oil and gas producer’s stock after acquiring an additional 1,112,774 shares during the quarter. Suncor Energy comprises approximately 6.5% of Goehring & Rozencwajg Associates LLC’s portfolio, making the stock its 4th largest position. Goehring & Rozencwajg Associates LLC’s holdings in Suncor Energy were worth $121,668,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SU. Atlantic Edge Private Wealth Management LLC raised its stake in shares of Suncor Energy by 54.9% during 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 purchasing an additional 225 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Suncor Energy during the second quarter valued at about $31,000. 1 North Wealth Services LLC acquired a new position in shares of Suncor Energy in the fourth quarter worth about $32,000. Accent Capital Management LLC boosted its holdings in 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 purchasing an additional 225 shares during the last quarter. Finally, Maseco LLP acquired a new stake in Suncor Energy during the 4th quarter valued at approximately $39,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Stock Performance

Shares of SU opened at $60.67 on Thursday. The firm has a fifty day moving average of $61.21 and a 200-day moving average of $58.53. The company has a market cap of $71.64 billion, a price-to-earnings ratio of 15.93 and a beta of 0.30. 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 1 year low of $37.76 and a 1 year high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last released 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 firm had revenue of $10.41 billion during the quarter, compared to analyst estimates 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 last year, the business earned $1.31 EPS. As a group, equities analysts anticipate that Suncor Energy Inc. will post 7.07 earnings per share for the current year.

Suncor Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, June 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.0%. Suncor Energy’s payout ratio is currently 45.67%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SU shares. 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. Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Royal Bank Of Canada boosted their target price on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. The Goldman Sachs Group lowered shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price on the stock. in a research note on Friday, June 5th. Finally, Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $71.67.

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.