Suncor Energy Inc. $SU Shares Bought by Shell Asset Management Co.

Shell Asset Management Co. grew its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 65.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 103,082 shares of the oil and gas producer’s stock after acquiring an additional 40,892 shares during the period. Shell Asset Management Co.’s holdings in Suncor Energy were worth $3,854,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Ascent Group LLC lifted its position in shares of Suncor Energy by 4.7% during the 2nd quarter. Ascent Group LLC now owns 5,769 shares of the oil and gas producer’s stock valued at $216,000 after acquiring an additional 260 shares during the last quarter. Sagespring Wealth Partners LLC raised its stake in 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 valued at $235,000 after purchasing an additional 332 shares during the period. Winthrop Capital Management LLC raised its stake in Suncor Energy by 2.6% during the 1st quarter. Winthrop Capital Management LLC now owns 13,654 shares of the oil and gas producer’s stock valued at $529,000 after purchasing an additional 352 shares during the period. Salem Investment Counselors Inc. raised its stake in Suncor Energy by 97.6% during the 1st quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 405 shares during the period. Finally, Hanson & Doremus Investment Management raised its stake in Suncor Energy by 143.5% during 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. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Down 0.5%

NYSE SU opened at $41.33 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26. The firm has a 50-day simple moving average of $40.65 and a 200 day simple moving average of $38.22. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $43.48. The stock has a market cap of $49.96 billion, a PE ratio of 12.72, a PEG ratio of 3.37 and a beta of 0.78.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. The business had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $11.56 billion. During the same quarter last year, the company earned $1.27 earnings per share. On average, research analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 4th were given a $0.4135 dividend. This represents a $1.65 annualized dividend and a yield of 4.0%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 51.08%.

Wall Street Analyst Weigh In

SU has been the topic of a number of research reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $65.00 price target on shares of Suncor Energy in a research note on Friday, October 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Suncor Energy in a research report on Saturday, September 27th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $65.00.

Suncor Energy Company 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.