Locust Wood Capital Advisers LLC grew its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 13.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,189,751 shares of the oil and gas producer’s stock after purchasing an additional 142,460 shares during the period. Suncor Energy makes up approximately 2.7% of Locust Wood Capital Advisers LLC’s portfolio, making the stock its 9th biggest holding. Locust Wood Capital Advisers LLC owned about 0.08% of Suncor Energy worth $37,073,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in SU. 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 purchasing an additional 4,914,700 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in Suncor Energy during the first quarter worth $170,379,000. Lazard Asset Management LLC grew its holdings in Suncor Energy by 328.2% during the first quarter. Lazard Asset Management LLC now owns 3,849,360 shares of the oil and gas producer’s stock worth $124,834,000 after acquiring an additional 2,950,451 shares during the period. FIL Ltd grew its holdings in Suncor Energy by 4.4% during the first quarter. FIL Ltd now owns 44,367,061 shares of the oil and gas producer’s stock worth $1,437,901,000 after acquiring an additional 1,862,871 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in Suncor Energy by 14.7% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,822,600 shares of the oil and gas producer’s stock worth $448,113,000 after acquiring an additional 1,772,600 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.
SU opened at $28.43 on Friday. The business’s fifty day moving average price is $31.06. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.63 and a current ratio of 0.98. The stock has a market capitalization of $44.97 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 1.57 and a beta of 1.08. Suncor Energy Inc. has a one year low of $25.81 and a one year high of $42.24.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.321 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.52%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, September 3rd. Suncor Energy’s payout ratio is presently 62.00%.
A number of research analysts recently weighed in on the company. BMO Capital Markets reaffirmed a “buy” rating on shares of Suncor Energy in a report on Monday, June 24th. Raymond James reaffirmed a “buy” rating on shares of Suncor Energy in a report on Thursday, May 2nd. Zacks Investment Research raised Suncor Energy from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Monday, May 13th. GMP Securities reaffirmed a “hold” rating and set a $48.00 price objective on shares of Suncor Energy in a report on Tuesday, May 7th. Finally, ValuEngine lowered Suncor Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $47.48.
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.
See Also: Dividend Yield
Want to see what other hedge funds are holding SU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Suncor Energy Inc. (NYSE:SU) (TSE:SU).
Receive News & Ratings for Suncor Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Suncor Energy and related companies with MarketBeat.com's FREE daily email newsletter.