Chemical Bank increased its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 7.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 64,906 shares of the oil and gas producer’s stock after acquiring an additional 4,222 shares during the period. Chemical Bank’s holdings in Suncor Energy were worth $2,022,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Suncor Energy during the 1st quarter valued at about $31,000. Lindbrook Capital LLC boosted its position in shares of Suncor Energy by 65.5% during the 1st quarter. Lindbrook Capital LLC now owns 1,064 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 421 shares in the last quarter. Canton Hathaway LLC acquired a new stake in shares of Suncor Energy during the 1st quarter valued at about $35,000. Cornerstone Advisors Inc. boosted its position in shares of Suncor Energy by 121.7% during the 1st quarter. Cornerstone Advisors Inc. now owns 1,095 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 601 shares in the last quarter. Finally, Zions Bancorporation N.A. acquired a new stake in shares of Suncor Energy during the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 65.24% of the company’s stock.
SU has been the topic of several recent research reports. ValuEngine lowered shares of Suncor Energy from a “hold” rating to a “sell” rating in a research report on Saturday, July 6th. Mizuho reiterated an “average” rating and set a $52.00 target price on shares of Suncor Energy in a research report on Monday, April 22nd. GMP Securities reiterated a “hold” rating and set a $48.00 target price on shares of Suncor Energy in a research report on Tuesday, May 7th. Raymond James reiterated a “buy” rating on shares of Suncor Energy in a research report on Thursday, May 2nd. Finally, Zacks Investment Research upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $47.48.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.321 per share. This is an increase from Suncor Energy’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a yield of 4.65%. The ex-dividend date of this dividend is Tuesday, September 3rd. Suncor Energy’s dividend payout ratio (DPR) is currently 62.00%.
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.
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