Suncor Energy Inc. (SU) Stake Increased by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lifted its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 24.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,655 shares of the oil and gas producer’s stock after purchasing an additional 41,870 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Suncor Energy were worth $6,995,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Suncor Energy during the 4th quarter valued at about $467,575,000. Mackenzie Financial Corp raised its stake in shares of Suncor Energy by 71.0% during the 4th quarter. Mackenzie Financial Corp now owns 14,798,181 shares of the oil and gas producer’s stock valued at $413,905,000 after buying an additional 6,144,568 shares during the last quarter. Sanders Capital LLC raised its stake in shares of Suncor Energy by 25.1% during the 1st quarter. Sanders Capital LLC now owns 24,516,616 shares of the oil and gas producer’s stock valued at $834,328,000 after buying an additional 4,914,700 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in shares of Suncor Energy during the 1st quarter valued at about $170,379,000. Finally, Fiera Capital Corp raised its stake in shares of Suncor Energy by 39.1% during the 4th quarter. Fiera Capital Corp now owns 6,862,367 shares of the oil and gas producer’s stock valued at $192,060,000 after buying an additional 1,928,193 shares during the last quarter. 65.11% of the stock is owned by hedge funds and other institutional investors.

Shares of Suncor Energy stock opened at $30.80 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.88 and a debt-to-equity ratio of 0.34. Suncor Energy Inc. has a twelve month low of $25.81 and a twelve month high of $42.55. The stock has a market capitalization of $48.78 billion, a P/E ratio of 15.40, a price-to-earnings-growth ratio of 1.74 and a beta of 1.16.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Wednesday, May 1st. The oil and gas producer reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.38. Suncor Energy had a return on equity of 10.06% and a net margin of 10.03%. The firm had revenue of $7.07 billion during the quarter, compared to analyst estimates of $7.06 billion. During the same quarter in the previous year, the business earned $0.60 EPS. Analysts forecast that Suncor Energy Inc. will post 2.55 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Tuesday, June 4th will be paid a $0.3121 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.25 annualized dividend and a dividend yield of 4.05%. Suncor Energy’s dividend payout ratio is presently 63.50%.

A number of equities analysts have weighed in on SU shares. Macquarie upgraded Suncor Energy from a “neutral” rating to an “outperform” rating and set a $33.30 price objective for the company in a research note on Thursday, February 7th. GMP Securities reiterated a “hold” rating and set a $47.00 price objective on shares of Suncor Energy in a research note on Thursday, February 7th. Zacks Investment Research lowered Suncor Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, February 11th. TheStreet lowered Suncor Energy from a “b-” rating to a “c+” rating in a research note on Monday, February 11th. Finally, Credit Suisse Group upgraded Suncor Energy from a “neutral” rating to an “outperform” rating in a research note on Thursday, March 14th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $47.48.

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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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Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

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