Lyrical Asset Management LP Increases Holdings in Suncor Energy Inc. (NYSE:SU)

Lyrical Asset Management LP raised its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,328,038 shares of the oil and gas producer’s stock after purchasing an additional 40,133 shares during the quarter. Suncor Energy comprises about 2.8% of Lyrical Asset Management LP’s investment portfolio, making the stock its 16th biggest position. Lyrical Asset Management LP owned 0.43% of Suncor Energy worth $190,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ruggaard & Associates LLC lifted its position in Suncor Energy by 21.8% during the 4th quarter. Ruggaard & Associates LLC now owns 10,630 shares of the oil and gas producer’s stock worth $379,000 after acquiring an additional 1,900 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC purchased a new stake in Suncor Energy during the 4th quarter worth approximately $5,140,000. Dynamic Technology Lab Private Ltd raised its position in shares of Suncor Energy by 16.2% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 42,168 shares of the oil and gas producer’s stock valued at $1,505,000 after purchasing an additional 5,884 shares in the last quarter. ExodusPoint Capital Management LP boosted its stake in shares of Suncor Energy by 1,037.7% during the 4th quarter. ExodusPoint Capital Management LP now owns 282,900 shares of the oil and gas producer’s stock valued at $10,094,000 after buying an additional 258,033 shares during the last quarter. Finally, World Investment Advisors increased its stake in shares of Suncor Energy by 55.4% in the fourth quarter. World Investment Advisors now owns 24,310 shares of the oil and gas producer’s stock worth $867,000 after buying an additional 8,669 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Down 9.8 %

SU stock opened at $33.19 on Friday. Suncor Energy Inc. has a 1 year low of $32.78 and a 1 year high of $41.95. The company has a fifty day simple moving average of $37.94 and a 200 day simple moving average of $38.20. The firm has a market cap of $41.06 billion, a PE ratio of 9.62, a PEG ratio of 2.94 and a beta of 1.11. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, beating the consensus estimate of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. Sell-side analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.399 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend was Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is 45.51%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SU. Scotiabank raised shares of Suncor Energy to a “hold” rating in a research report on Wednesday, March 19th. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Finally, Cibc World Mkts upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.20.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.