Oppenheimer Asset Management Inc. increased its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 9.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,286 shares of the oil and gas producer’s stock after acquiring an additional 2,162 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Suncor Energy were worth $988,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Great West Life Assurance Co. Can grew its position in Suncor Energy by 4.5% in the 2nd quarter. Great West Life Assurance Co. Can now owns 14,071,571 shares of the oil and gas producer’s stock valued at $574,449,000 after buying an additional 601,708 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Suncor Energy by 50.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 848,078 shares of the oil and gas producer’s stock valued at $34,500,000 after buying an additional 285,511 shares during the last quarter. Janus Henderson Group PLC grew its position in Suncor Energy by 2.6% in the 2nd quarter. Janus Henderson Group PLC now owns 10,407,069 shares of the oil and gas producer’s stock valued at $423,328,000 after buying an additional 267,032 shares during the last quarter. Ferguson Wellman Capital Management Inc. boosted its position in shares of Suncor Energy by 1.2% during the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 301,749 shares of the oil and gas producer’s stock worth $12,275,000 after purchasing an additional 3,690 shares in the last quarter. Finally, Gagnon Advisors LLC boosted its position in shares of Suncor Energy by 1.6% during the 2nd quarter. Gagnon Advisors LLC now owns 146,195 shares of the oil and gas producer’s stock worth $5,947,000 after purchasing an additional 2,350 shares in the last quarter. 65.57% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE SU opened at $40.03 on Thursday. The firm has a market cap of $67.03 billion, a price-to-earnings ratio of 19.80, a P/E/G ratio of 1.69 and a beta of 0.85. Suncor Energy Inc. has a one year low of $31.33 and a one year high of $42.55. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.56 and a current ratio of 0.90.
Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Wednesday, July 25th. The oil and gas producer reported $0.73 EPS for the quarter, topping the consensus estimate of $0.57 by $0.16. Suncor Energy had a net margin of 12.25% and a return on equity of 9.61%. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $6.53 billion. During the same period in the previous year, the firm earned $0.26 EPS. analysts forecast that Suncor Energy Inc. will post 2.47 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 25th. Investors of record on Tuesday, September 4th will be given a $0.274 dividend. The ex-dividend date of this dividend is Friday, August 31st. This represents a $1.10 annualized dividend and a dividend yield of 2.74%. Suncor Energy’s dividend payout ratio is presently 72.85%.
Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, June 5th. AltaCorp Capital lowered shares of Suncor Energy from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, June 12th. Mizuho assumed coverage on shares of Suncor Energy in a research report on Monday, July 23rd. They set a “buy” rating on the stock. Finally, Morgan Stanley boosted their target price on shares of Suncor Energy from $54.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 23rd. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Suncor Energy has a consensus rating of “Buy” and an average target price of $49.71.
About Suncor Energy
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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