Navellier & Associates Inc bought a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 17,343 shares of the oil and gas producer’s stock, valued at approximately $706,000.
Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Suncor Energy by 11.8% during the first quarter. BlackRock Inc. now owns 29,375,219 shares of the oil and gas producer’s stock valued at $1,014,620,000 after purchasing an additional 3,097,714 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Suncor Energy by 17.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,966,446 shares of the oil and gas producer’s stock valued at $812,045,000 after purchasing an additional 2,911,304 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in shares of Suncor Energy by 4.0% during the first quarter. OppenheimerFunds Inc. now owns 14,801,106 shares of the oil and gas producer’s stock valued at $511,230,000 after purchasing an additional 564,375 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Suncor Energy by 1.2% during the first quarter. Great West Life Assurance Co. Can now owns 13,469,863 shares of the oil and gas producer’s stock valued at $464,452,000 after purchasing an additional 158,767 shares during the last quarter. Finally, Sanders Capital LLC purchased a new position in shares of Suncor Energy during the second quarter valued at approximately $525,087,000. Hedge funds and other institutional investors own 65.80% of the company’s stock.
Several research firms have recently issued reports on SU. Zacks Investment Research upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Tuesday, July 24th. Mizuho began coverage on shares of Suncor Energy in a report on Monday, July 23rd. They issued a “buy” rating for the company. AltaCorp Capital lowered shares of Suncor Energy from an “outperform” rating to a “sector perform” rating in a report on Tuesday, June 12th. Finally, Morgan Stanley boosted their price objective on shares of Suncor Energy from $54.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, May 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company’s stock. Suncor Energy has a consensus rating of “Buy” and an average target price of $49.71.
Shares of NYSE SU opened at $40.72 on Friday. Suncor Energy Inc. has a twelve month low of $30.68 and a twelve month high of $42.55. The company has a market capitalization of $66.97 billion, a P/E ratio of 19.78, a PEG ratio of 1.72 and a beta of 0.79. The company has a quick ratio of 0.56, a current ratio of 0.90 and a debt-to-equity ratio of 0.30.
Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Wednesday, July 25th. The oil and gas producer reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.16. Suncor Energy had a net margin of 12.25% and a return on equity of 9.61%. The company had revenue of $8.08 billion during the quarter, compared to analyst estimates of $6.53 billion. During the same period in the previous year, the business earned $0.26 EPS. sell-side analysts expect that Suncor Energy Inc. will post 2.42 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 25th. Investors of record on Tuesday, September 4th will be issued a $0.274 dividend. The ex-dividend date is Friday, August 31st. This represents a $1.10 dividend on an annualized basis and a yield of 2.69%. Suncor Energy’s payout ratio is currently 73.51%.
Suncor Energy Profile
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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