Medici Capital LLC Acquires Shares of 29,900 Suncor Energy Inc. (NYSE:SU)

Medici Capital LLC acquired a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 29,900 shares of the oil and gas producer’s stock, valued at approximately $1,158,000. Suncor Energy accounts for 1.4% of Medici Capital LLC’s portfolio, making the stock its 8th biggest holding.

Several other institutional investors have also recently made changes to their positions in SU. Inscription Capital LLC purchased a new position in Suncor Energy during the first quarter valued at approximately $247,000. Sagespring Wealth Partners LLC grew its stake in shares of Suncor Energy by 5.8% during the 1st quarter. Sagespring Wealth Partners LLC now owns 6,065 shares of the oil and gas producer’s stock worth $235,000 after purchasing an additional 332 shares during the period. Sowell Financial Services LLC purchased a new position in shares of Suncor Energy during the 1st quarter valued at approximately $230,000. Hanson & Doremus Investment Management lifted its stake in shares of Suncor Energy by 143.5% in the 1st quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 465 shares during the period. Finally, Trust Co. of Toledo NA OH lifted its stake in shares of Suncor Energy by 2.2% in the 1st quarter. Trust Co. of Toledo NA OH now owns 23,491 shares of the oil and gas producer’s stock valued at $910,000 after purchasing an additional 510 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on SU. Wall Street Zen cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, April 17th. Bank of America initiated coverage on Suncor Energy in a report on Wednesday, February 26th. They issued a “neutral” rating for the company. Finally, Scotiabank raised Suncor Energy to a “hold” rating in a report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $64.67.

Suncor Energy Trading Down 0.7%

Shares of Suncor Energy stock opened at $40.67 on Tuesday. 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 Inc. has a twelve month low of $30.79 and a twelve month high of $41.95. The firm has a market capitalization of $49.73 billion, a PE ratio of 11.79, a P/E/G ratio of 2.94 and a beta of 0.79. The firm’s 50-day moving average price is $35.68 and its 200 day moving average price is $36.89.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. The business had revenue of $9.10 billion for the quarter, compared to the consensus estimate of $13.39 billion. During the same quarter last year, the business posted $1.41 earnings per share. On average, sell-side analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.4133 per share. This represents a $1.65 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Wednesday, June 4th. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s payout ratio is 47.55%.

Suncor Energy Profile

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.