Dynamic Technology Lab Private Ltd bought a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 43,632 shares of the oil and gas producer’s stock, valued at approximately $1,688,000.
Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. grew its position in shares of Suncor Energy by 23.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 71,447 shares of the oil and gas producer’s stock worth $2,907,000 after acquiring an additional 13,424 shares during the last quarter. First Manhattan Co. grew its position in shares of Suncor Energy by 136.0% during the second quarter. First Manhattan Co. now owns 4,000 shares of the oil and gas producer’s stock worth $162,000 after acquiring an additional 2,305 shares during the last quarter. D.A. Davidson & CO. bought a new position in shares of Suncor Energy during the second quarter worth about $340,000. CIBC Private Wealth Group LLC grew its position in shares of Suncor Energy by 24.9% during the second quarter. CIBC Private Wealth Group LLC now owns 141,416 shares of the oil and gas producer’s stock worth $5,753,000 after acquiring an additional 28,206 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Suncor Energy during the second quarter worth about $2,079,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.
Several research firms have recently commented on SU. Macquarie lowered shares of Suncor Energy from an “outperform” rating to a “neutral” rating and set a $46.00 price target for the company. in a research report on Tuesday. Mizuho restated an “average” rating and set a $52.00 price target on shares of Suncor Energy in a research report on Monday. Canaccord Genuity set a $65.00 target price on shares of Suncor Energy and gave the company a “buy” rating in a research report on Tuesday, November 20th. Zacks Investment Research reiterated a “hold” rating on shares of Suncor Energy in a research report on Friday, November 16th. Finally, Raymond James reiterated a “buy” rating on shares of Suncor Energy in a research report on Friday, November 2nd. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $51.00.
Shares of SU opened at $30.77 on Friday. The stock has a market capitalization of $51.96 billion, a P/E ratio of 20.38, a P/E/G ratio of 1.48 and a beta of 1.00. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.93 and a quick ratio of 0.59. Suncor Energy Inc. has a 52-week low of $30.57 and a 52-week high of $42.55.
Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, October 31st. The oil and gas producer reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.25. The firm had revenue of $8.31 billion during the quarter, compared to analyst estimates of $9.29 billion. Suncor Energy had a net margin of 12.66% and a return on equity of 11.11%. During the same quarter in the prior year, the firm posted $0.52 EPS. Equities research analysts expect that Suncor Energy Inc. will post 2.46 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 24th. Investors of record on Monday, December 3rd will be given a $0.2725 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $1.09 dividend on an annualized basis and a yield of 3.54%. Suncor Energy’s dividend payout ratio is presently 71.52%.
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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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