Nitor Capital Management LLC Makes New Investment in Suncor Energy Inc. $SU

Nitor Capital Management LLC purchased a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 39,445 shares of the oil and gas producer’s stock, valued at approximately $2,117,000. Suncor Energy accounts for approximately 1.4% of Nitor Capital Management LLC’s investment portfolio, making the stock its 15th biggest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Suncor Energy by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer’s stock worth $2,473,173,000 after buying an additional 1,166,405 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Suncor Energy by 121.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer’s stock valued at $1,724,954,000 after buying an additional 14,304,131 shares in the last quarter. FIL Ltd lifted its position in shares of Suncor Energy by 14.0% during the 4th quarter. FIL Ltd now owns 21,050,387 shares of the oil and gas producer’s stock valued at $934,312,000 after acquiring an additional 2,592,516 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Suncor Energy by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 19,371,704 shares of the oil and gas producer’s stock worth $860,933,000 after acquiring an additional 516,783 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Suncor Energy by 8.3% during the 4th quarter. Fisher Asset Management LLC now owns 16,820,924 shares of the oil and gas producer’s stock worth $746,176,000 after acquiring an additional 1,289,959 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research note on Friday, June 5th. Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Desjardins raised Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. Zacks Research cut Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen downgraded Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.25.

Suncor Energy Price Performance

Suncor Energy stock opened at $68.46 on Monday. The stock has a market capitalization of $80.83 billion, a P/E ratio of 12.61, a P/E/G ratio of 0.49 and a beta of 0.29. Suncor Energy Inc. has a 12-month low of $37.76 and a 12-month high of $70.29. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08. The firm’s 50-day moving average is $61.02 and its two-hundred day moving average is $61.67.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.19. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. The business had revenue of $13.41 billion for the quarter, compared to the consensus estimate of $11.68 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. Equities analysts predict that Suncor Energy Inc. will post 7.39 earnings per share for the current year.

Suncor Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, September 4th. Suncor Energy’s dividend payout ratio is currently 32.04%.

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.