Strategic Global Advisors LLC Takes Position in Suncor Energy Inc. $SU

Strategic Global Advisors LLC bought a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,660 shares of the oil and gas producer’s stock, valued at approximately $411,000.

Several other hedge funds have also recently modified their holdings of the stock. Intact Investment Management Inc. boosted its holdings in shares of Suncor Energy by 36.3% during the 4th quarter. Intact Investment Management Inc. now owns 1,695,160 shares of the oil and gas producer’s stock worth $75,236,000 after purchasing an additional 451,110 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Suncor Energy by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer’s stock valued at $2,473,173,000 after purchasing an additional 1,166,405 shares during the last quarter. Harvest Portfolios Group Inc. lifted its position in Suncor Energy by 9.1% in the fourth quarter. Harvest Portfolios Group Inc. now owns 360,668 shares of the oil and gas producer’s stock valued at $16,008,000 after buying an additional 30,210 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Suncor Energy by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer’s stock worth $833,622,000 after acquiring an additional 411,243 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in Suncor Energy by 6.3% in the first quarter. Public Employees Retirement System of Ohio now owns 846,111 shares of the oil and gas producer’s stock valued at $55,802,000 after purchasing an additional 50,502 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Shares of SU stock opened at $65.66 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19. Suncor Energy Inc. has a 52 week low of $37.76 and a 52 week high of $70.29. The stock has a market capitalization of $77.53 billion, a PE ratio of 12.09, a P/E/G ratio of 0.47 and a beta of 0.30. The firm has a 50 day moving average of $61.50 and a two-hundred day moving average of $61.94.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $11.68 billion. During the same quarter in the previous year, the firm posted $0.71 earnings per share. On average, research analysts predict that Suncor Energy Inc. will post 7.39 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, September 4th. Suncor Energy’s payout ratio is presently 32.04%.

Wall Street Analysts Forecast Growth

SU has been the subject of several research analyst reports. Morgan Stanley set a $106.00 price target on Suncor Energy in a research report on Wednesday, August 19th. Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Desjardins raised Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. The Goldman Sachs Group cut Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price for the company. in a report on Friday, June 5th. Finally, Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $80.25.

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.