Cidel Asset Management Inc. raised its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 3,615,768 shares of the oil and gas producer’s stock after buying an additional 123,846 shares during the period. Suncor Energy accounts for about 5.5% of Cidel Asset Management Inc.’s portfolio, making the stock its 5th largest position. Cidel Asset Management Inc. owned about 0.22% of Suncor Energy worth $113,157,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. Lombard Odier & Cie Canada Limited Partnership raised its stake in Suncor Energy by 15.9% in the third quarter. Lombard Odier & Cie Canada Limited Partnership now owns 57,491 shares of the oil and gas producer’s stock valued at $1,593,000 after buying an additional 7,889 shares during the period. LNZ Capital LP bought a new stake in shares of Suncor Energy during the third quarter worth approximately $11,112,000. Commonwealth Bank of Australia raised its stake in shares of Suncor Energy by 149.1% in the third quarter. Commonwealth Bank of Australia now owns 1,713,224 shares of the oil and gas producer’s stock worth $47,532,000 after buying an additional 1,025,443 shares during the last quarter. Hollow Brook Wealth Management LLC bought a new stake in shares of Suncor Energy during the third quarter worth approximately $232,000. Finally, Check Capital Management Inc. CA raised its stake in shares of Suncor Energy by 1.3% in the third quarter. Check Capital Management Inc. CA now owns 1,117,406 shares of the oil and gas producer’s stock worth $31,042,000 after buying an additional 14,250 shares during the last quarter. 65.38% of the stock is currently owned by hedge funds and other institutional investors.
Suncor Energy Inc. (NYSE SU) traded up 0.78% on Friday, hitting $29.73. 6,694,531 shares of the company were exchanged. The stock has a 50 day moving average of $31.22 and a 200 day moving average of $31.50. The company has a market capitalization of $49.63 billion, a price-to-earnings ratio of 43.02 and a beta of 0.82. Suncor Energy Inc. has a 52 week low of $25.70 and a 52 week high of $33.79.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 26th. Shareholders of record on Monday, June 5th will be paid a $0.2371 dividend. The ex-dividend date is Thursday, June 1st. This represents a $0.95 annualized dividend and a yield of 3.19%. Suncor Energy ‘s payout ratio is 141.79%.
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A number of equities research analysts recently commented on the stock. Scotiabank lowered shares of Suncor Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, June 9th. Zacks Investment Research downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, April 12th. Goldman Sachs Group, Inc. (The) raised shares of Suncor Energy from a “buy” rating to a “conviction-buy” rating and raised their target price for the company from $25.00 to $34.00 in a research report on Wednesday, April 5th. They noted that the move was a valuation call. Simmons decreased their price objective on shares of Suncor Energy from $43.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, April 19th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $52.00 target price on shares of Suncor Energy in a report on Saturday, March 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $42.49.
About Suncor Energy
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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