Summerhill Capital Management lnc. Takes Position in Suncor Energy Inc. $SU

Summerhill Capital Management lnc. purchased a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 12,761 shares of the oil and gas producer’s stock, valued at approximately $842,000. Suncor Energy accounts for about 0.7% of Summerhill Capital Management lnc.’s holdings, making the stock its 22nd biggest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Venturi Wealth Management LLC bought a new stake in Suncor Energy during the 1st quarter worth approximately $230,000. Wasatch Advisors LP raised its stake in shares of Suncor Energy by 0.3% during the first quarter. Wasatch Advisors LP now owns 77,366 shares of the oil and gas producer’s stock valued at $5,118,000 after acquiring an additional 224 shares during the last quarter. Wesbanco Bank Inc. acquired a new position in shares of Suncor Energy during the first quarter worth $219,000. OLD National Bancorp IN acquired a new position in shares of Suncor Energy during the first quarter worth $207,000. Finally, Ritholtz Wealth Management lifted its holdings in shares of Suncor Energy by 6.3% during the first quarter. Ritholtz Wealth Management now owns 87,753 shares of the oil and gas producer’s stock worth $5,801,000 after purchasing an additional 5,221 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

SU has been the subject of a number of recent research reports. Royal Bank Of Canada increased their price objective on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, April 1st. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Wall Street Zen lowered Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. The Goldman Sachs Group cut Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a research note on Friday, June 5th. Finally, ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.67.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $53.87 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $63.17 and a two-hundred day moving average price of $57.17. Suncor Energy Inc. has a 1-year low of $37.22 and a 1-year high of $70.29. The company has a market cap of $63.60 billion, a P/E ratio of 14.14 and a beta of 0.27.

Suncor Energy (NYSE:SU) (TSE:SU) last announced 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 during 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 period in the prior year, the firm earned $1.31 earnings per share. As a group, analysts anticipate that Suncor Energy Inc. will post 7.07 EPS for the current year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Thursday, June 4th. Suncor Energy’s payout ratio is presently 45.67%.

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.