Evanston Investments Inc. dba Evanston Advisors purchased a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 211,821 shares of the oil and gas producer’s stock, valued at approximately $8,617,000. Suncor Energy comprises about 1.9% of Evanston Investments Inc. dba Evanston Advisors’ investment portfolio, making the stock its 18th biggest holding.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Acorn Advisory Capital L.P. bought a new position in Suncor Energy in the 2nd quarter worth approximately $1,611,000. Russell Investments Group Ltd. boosted its stake in Suncor Energy by 7.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,436,807 shares of the oil and gas producer’s stock worth $98,029,000 after purchasing an additional 171,855 shares during the period. Twin Tree Management LP bought a new position in Suncor Energy in the 2nd quarter worth approximately $6,025,000. Canada Pension Plan Investment Board boosted its stake in Suncor Energy by 24.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 805,874 shares of the oil and gas producer’s stock worth $32,775,000 after purchasing an additional 158,700 shares during the period. Finally, Clarius Group LLC bought a new position in Suncor Energy in the 2nd quarter worth approximately $217,000. 66.40% of the stock is owned by hedge funds and other institutional investors.
NYSE SU opened at $40.33 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.90 and a debt-to-equity ratio of 0.30. The company has a market cap of $66.28 billion, a PE ratio of 26.71, a PEG ratio of 1.71 and a beta of 0.79. Suncor Energy Inc. has a one year low of $30.68 and a one year high of $42.55.
Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Wednesday, July 25th. The oil and gas producer reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.16. The firm had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $6.53 billion. Suncor Energy had a return on equity of 9.61% and a net margin of 12.25%. During the same period in the prior year, the company earned $0.26 EPS. sell-side analysts expect that Suncor Energy Inc. will post 2.42 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 25th. Stockholders of record on Tuesday, September 4th will be given a dividend of $0.274 per share. The ex-dividend date of this dividend is Friday, August 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.72%. Suncor Energy’s dividend payout ratio is currently 73.51%.
SU has been the subject of several recent analyst reports. Morgan Stanley upped their price target on Suncor Energy from $54.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 23rd. Zacks Investment Research upgraded Suncor Energy from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Thursday, May 24th. AltaCorp Capital downgraded Suncor Energy from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, June 12th. Finally, Mizuho initiated coverage on Suncor Energy in a research note on Monday, July 23rd. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Suncor Energy has a consensus rating of “Buy” and an average price target of $49.71.
Suncor Energy Company 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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