Kerrisdale Advisers LLC Has $324,000 Position in Suncor Energy Inc. $SU

Kerrisdale Advisers LLC trimmed its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 63.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,025 shares of the oil and gas producer’s stock after selling 10,525 shares during the quarter. Kerrisdale Advisers LLC’s holdings in Suncor Energy were worth $324,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Suncor Energy in the second quarter valued at approximately $816,551,000. The Manufacturers Life Insurance Company acquired a new position in shares of Suncor Energy during the second quarter worth $790,952,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Suncor Energy by 121.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer’s stock valued at $1,724,954,000 after acquiring an additional 14,304,131 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Suncor Energy in the 2nd quarter valued at $466,810,000. Finally, Bank of America Corp DE acquired a new stake in shares of Suncor Energy during the 2nd quarter valued at $351,892,000. Institutional investors own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SU. Desjardins raised Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Wall Street Zen downgraded shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, Morgan Stanley set a $106.00 price objective on shares of Suncor Energy in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $80.25.

Suncor Energy Stock Performance

Shares of SU opened at $65.50 on Monday. The firm’s fifty day simple moving average is $61.93 and its two-hundred day simple moving average is $62.11. Suncor Energy Inc. has a 12 month low of $37.76 and a 12 month high of $70.29. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $77.34 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 0.47 and a beta of 0.29.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.19. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.The company had revenue of $13.41 billion for the quarter, compared to the consensus estimate of $11.68 billion. During the same period in the previous year, the business earned $0.71 EPS. As a group, analysts predict that Suncor Energy Inc. will post 7.39 EPS for the current year.

Suncor Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 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 3.7%. The ex-dividend date is Friday, September 4th. Suncor Energy’s dividend payout ratio is presently 32.04%.

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.