Trustcore Financial Services LLC Invests $39,000 in Suncor Energy Inc. (SU) Stock

Trustcore Financial Services LLC purchased a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 1,200 shares of the oil and gas producer’s stock, valued at approximately $39,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc increased its holdings in shares of Suncor Energy by 2.4% in the third quarter. Vanguard Group Inc now owns 45,511,913 shares of the oil and gas producer’s stock valued at $1,760,855,000 after buying an additional 1,077,378 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Suncor Energy by 3.5% in the fourth quarter. BlackRock Inc. now owns 31,170,360 shares of the oil and gas producer’s stock valued at $871,835,000 after buying an additional 1,060,818 shares in the last quarter. Sanders Capital LLC increased its holdings in shares of Suncor Energy by 25.1% in the first 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 in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Suncor Energy by 0.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 19,009,491 shares of the oil and gas producer’s stock valued at $531,696,000 after buying an additional 116,051 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in shares of Suncor Energy by 11.4% in the fourth quarter. 1832 Asset Management L.P. now owns 17,064,277 shares of the oil and gas producer’s stock valued at $477,093,000 after buying an additional 1,741,645 shares in the last quarter. 66.94% of the stock is currently owned by institutional investors.

Several equities analysts have issued reports on SU shares. Morgan Stanley restated a “buy” rating on shares of Suncor Energy in a research report on Tuesday, January 29th. Credit Suisse Group raised shares of Suncor Energy from a “neutral” rating to an “outperform” rating in a research note on Thursday, March 14th. GMP Securities reaffirmed a “hold” rating and issued a $47.00 price objective on shares of Suncor Energy in a research note on Thursday, February 7th. Macquarie raised shares of Suncor Energy from a “neutral” rating to an “outperform” rating and set a $33.30 price objective on the stock in a research note on Thursday, February 7th. Finally, TheStreet lowered shares of Suncor Energy from a “b-” rating to a “c+” rating in a research note on Monday, February 11th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $49.23.

Shares of NYSE SU opened at $32.18 on Friday. The firm has a market cap of $50.55 billion, a P/E ratio of 16.09, a P/E/G ratio of 1.88 and a beta of 1.16. Suncor Energy Inc. has a 12-month low of $25.81 and a 12-month high of $42.55. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.56 and a current ratio of 0.88.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Wednesday, May 1st. The oil and gas producer reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.38. The business had revenue of $7.07 billion for the quarter, compared to analyst estimates of $7.06 billion. Suncor Energy had a net margin of 10.03% and a return on equity of 10.06%. During the same period in the prior year, the firm earned $0.60 earnings per share. Equities research analysts predict that Suncor Energy Inc. will post 2.44 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Tuesday, June 4th will be paid a dividend of $0.3121 per share. This represents a $1.25 annualized dividend and a yield of 3.88%. The ex-dividend date of this dividend is Monday, June 3rd. Suncor Energy’s dividend payout ratio is presently 63.50%.

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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.

Read More: Price to Earnings Ratio (PE) Basics

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

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