Locust Wood Capital Advisers LLC Has $94.09 Million Position in Suncor Energy Inc. $SU

Locust Wood Capital Advisers LLC lessened its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,250,426 shares of the oil and gas producer’s stock after selling 51,260 shares during the period. Suncor Energy makes up about 2.4% of Locust Wood Capital Advisers LLC’s investment portfolio, making the stock its 19th biggest holding. Locust Wood Capital Advisers LLC owned about 0.19% of Suncor Energy worth $94,090,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Joel Isaacson & Co. LLC bought a new stake in Suncor Energy during the 3rd quarter worth approximately $206,000. Triasima Portfolio Management inc. bought a new stake in shares of Suncor Energy during the third quarter worth $215,000. Live Oak Investment Partners raised its holdings in shares of Suncor Energy by 11.6% during the third quarter. Live Oak Investment Partners now owns 26,531 shares of the oil and gas producer’s stock worth $1,109,000 after acquiring an additional 2,755 shares during the period. Root Financial Partners LLC bought a new stake in Suncor Energy in the 3rd quarter valued at $116,000. Finally, Inspire Advisors LLC lifted its position in Suncor Energy by 9.1% in the 3rd quarter. Inspire Advisors LLC now owns 15,421 shares of the oil and gas producer’s stock valued at $645,000 after acquiring an additional 1,292 shares in the last quarter. 67.37% of the stock is owned by institutional investors.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $50.50 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.35 and a quick ratio of 0.85. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $50.82. The firm has a market capitalization of $60.27 billion, a P/E ratio of 16.56 and a beta of 0.46. The company’s 50 day moving average price is $44.99 and its two-hundred day moving average price is $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.22. Suncor Energy had a net margin of 10.61% and a return on equity of 13.01%. The firm had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $8.82 billion. During the same period in the prior year, the company posted $1.48 EPS. On average, equities analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 3rd were paid a dividend of $0.60 per share. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. The ex-dividend date was Wednesday, December 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 4.8%. Suncor Energy’s dividend payout ratio (DPR) is presently 56.39%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Raymond James Financial upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $65.00 price target on shares of Suncor Energy in a research report on Friday, October 3rd. Wells Fargo & Company started coverage on shares of Suncor Energy in a report on Friday, October 17th. They issued an “equal weight” rating on the stock. The Goldman Sachs Group boosted their price target on shares of Suncor Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, January 2nd. Finally, JPMorgan Chase & Co. raised Suncor Energy from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $46.15 to $54.00 in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $55.67.

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.