Jacobi Capital Management LLC decreased its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 99.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15 shares of the oil and gas producer’s stock after selling 1,993 shares during the period. Jacobi Capital Management LLC’s holdings in Suncor Energy were worth $34,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Suncor Energy by 10.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 40,611,177 shares of the oil and gas producer’s stock valued at $641,656,000 after acquiring an additional 3,701,728 shares in the last quarter. Public Investment Fund acquired a new position in shares of Suncor Energy during the first quarter valued at about $481,072,000. The Manufacturers Life Insurance Company raised its holdings in shares of Suncor Energy by 18.1% during the first quarter. The Manufacturers Life Insurance Company now owns 16,653,195 shares of the oil and gas producer’s stock valued at $263,121,000 after purchasing an additional 2,556,285 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Suncor Energy by 10.0% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 15,200,000 shares of the oil and gas producer’s stock valued at $239,851,000 after purchasing an additional 1,377,400 shares during the period. Finally, APG Asset Management N.V. raised its holdings in shares of Suncor Energy by 41.9% during the first quarter. APG Asset Management N.V. now owns 6,809,285 shares of the oil and gas producer’s stock valued at $196,600,000 after purchasing an additional 2,011,292 shares during the period. Institutional investors own 66.12% of the company’s stock.
A number of research firms recently weighed in on SU. UBS Group upped their target price on shares of Suncor Energy from $24.50 to $42.00 and gave the stock a “buy” rating in a report on Monday, June 29th. ValuEngine upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, July 23rd. TheStreet lowered shares of Suncor Energy from a “c-” rating to a “d+” rating in a report on Friday, May 15th. Wells Fargo & Co restated a “buy” rating on shares of Suncor Energy in a report on Friday, July 24th. Finally, Raymond James reaffirmed a “buy” rating on shares of Suncor Energy in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $37.11.
Shares of SU stock opened at $15.76 on Friday. Suncor Energy Inc. has a 52-week low of $9.60 and a 52-week high of $34.56. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.63 and a current ratio of 1.02. The company has a 50-day simple moving average of $17.00 and a two-hundred day simple moving average of $20.52. The company has a market capitalization of $24.04 billion, a price-to-earnings ratio of -5.95 and a beta of 1.42.
Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Wednesday, July 22nd. The oil and gas producer reported ($0.98) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.54). Suncor Energy had a negative net margin of 17.17% and a positive return on equity of 0.44%. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $4.07 billion. On average, sell-side analysts forecast that Suncor Energy Inc. will post -0.89 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a dividend of $0.1565 per share. This is an increase from Suncor Energy’s previous quarterly dividend of $0.15. This represents a $0.63 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Thursday, September 3rd. Suncor Energy’s dividend payout ratio is currently 28.77%.
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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