Puzo Michael J acquired a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,000 shares of the oil and gas producer’s stock, valued at approximately $249,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of Suncor Energy by 6.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,182,208 shares of the oil and gas producer’s stock valued at $116,976,000 after acquiring an additional 251,585 shares during the last quarter. Hennessy Advisors Inc. lifted its stake in shares of Suncor Energy by 0.5% in the 1st quarter. Hennessy Advisors Inc. now owns 155,900 shares of the oil and gas producer’s stock valued at $5,056,000 after acquiring an additional 800 shares during the last quarter. UNIVEST FINANCIAL Corp raised its position in Suncor Energy by 11.5% during the 1st quarter. UNIVEST FINANCIAL Corp now owns 65,572 shares of the oil and gas producer’s stock valued at $2,127,000 after purchasing an additional 6,749 shares during the last quarter. Hexavest Inc. raised its position in Suncor Energy by 9,676.5% during the 1st quarter. Hexavest Inc. now owns 1,407,033 shares of the oil and gas producer’s stock valued at $45,614,000 after purchasing an additional 1,392,641 shares during the last quarter. Finally, Bank of The West bought a new position in Suncor Energy during the 1st quarter valued at approximately $367,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have commented on SU. Raymond James reaffirmed a “buy” rating on shares of Suncor Energy in a research report on Thursday, May 2nd. ValuEngine lowered Suncor Energy from a “hold” rating to a “sell” rating in a research report on Saturday, July 6th. Mizuho reaffirmed an “average” rating and set a $52.00 price target on shares of Suncor Energy in a research report on Monday, April 22nd. GMP Securities reaffirmed a “hold” rating and set a $48.00 price target on shares of Suncor Energy in a research report on Tuesday, May 7th. Finally, BMO Capital Markets reaffirmed a “buy” rating on shares of Suncor Energy in a research report on Monday, June 24th. One 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 currently has an average rating of “Buy” and an average target price of $47.48.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a $0.321 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.28 annualized dividend and a dividend yield of 4.59%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.31. Suncor Energy’s dividend payout ratio is currently 62.00%.
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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