Opal Capital LLC Takes $1.90 Million Position in Suncor Energy Inc. $SU

Opal Capital LLC purchased a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 42,841 shares of the oil and gas producer’s stock, valued at approximately $1,900,000.

Several other large investors have also recently modified their holdings of SU. Fisher Asset Management LLC increased its position in shares of Suncor Energy by 85.5% during the third quarter. Fisher Asset Management LLC now owns 15,530,965 shares of the oil and gas producer’s stock worth $649,350,000 after buying an additional 7,158,953 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Suncor Energy by 62.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 13,335,239 shares of the oil and gas producer’s stock worth $557,682,000 after buying an additional 5,113,280 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Suncor Energy by 5,468.8% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,289,219 shares of the oil and gas producer’s stock worth $101,609,000 after buying an additional 2,248,111 shares during the period. Alberta Investment Management Corp acquired a new stake in shares of Suncor Energy during the fourth quarter worth $93,960,000. Finally, Alyeska Investment Group L.P. increased its position in shares of Suncor Energy by 334.8% during the third quarter. Alyeska Investment Group L.P. now owns 2,590,863 shares of the oil and gas producer’s stock worth $108,324,000 after buying an additional 1,995,007 shares during the period. Institutional investors own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SU shares. Weiss Ratings cut shares of Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research report on Friday, June 5th. Royal Bank Of Canada increased their price objective on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. ATB Cormark Capital Markets upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. Finally, Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.67.

Suncor Energy Stock Down 2.5%

Shares of NYSE SU opened at $58.14 on Wednesday. The stock has a market capitalization of $68.65 billion, a P/E ratio of 15.26 and a beta of 0.27. The company has a 50-day moving average price of $64.66 and a 200-day moving average price of $56.65. Suncor Energy Inc. has a 1 year low of $37.22 and a 1 year high of $70.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The business had revenue of $10.41 billion for the quarter, compared to analyst estimates of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same quarter in the prior year, the business earned $1.31 earnings per share. On average, equities research analysts forecast that Suncor Energy Inc. will post 7.07 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Thursday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 45.41%.

About Suncor Energy

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.