Pure Financial Advisors LLC Buys Shares of 7,819 Suncor Energy Inc. $SU

Pure Financial Advisors LLC purchased a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the second quarter, Holdings Channel.com reports. The fund purchased 7,819 shares of the oil and gas producer’s stock, valued at approximately $420,000.

Several other hedge funds have also made changes to their positions in the business. AQR Capital Management LLC boosted its stake in shares of Suncor Energy by 14.2% in the first quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock valued at $959,000 after purchasing an additional 3,115 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Suncor Energy by 172.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock valued at $77,000 after purchasing an additional 1,254 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Suncor Energy by 21.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer’s stock worth $100,000 after buying an additional 464 shares during the period. AXA S.A. increased its stake in Suncor Energy by 17.2% during the 2nd quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer’s stock worth $1,883,000 after buying an additional 7,395 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in Suncor Energy by 6.4% during the 2nd quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer’s stock worth $2,514,000 after buying an additional 4,043 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a research report on Friday, June 5th. Desjardins raised Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Morgan Stanley set a $106.00 price objective on Suncor Energy in a research note on Wednesday, August 19th. Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Finally, Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 29th. One investment 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $80.25.

Suncor Energy Price Performance

Shares of SU opened at $66.43 on Friday. The firm has a market capitalization of $78.44 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 0.47 and a beta of 0.30. The firm’s fifty day simple moving average is $61.73 and its 200-day simple moving average is $62.03. Suncor Energy Inc. has a twelve month low of $37.76 and a twelve month high of $70.29. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.19. The firm had revenue of $13.41 billion during the quarter, compared to the consensus estimate of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same quarter in the previous year, the firm posted $0.71 earnings per share. Equities analysts forecast that Suncor Energy Inc. will post 7.39 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Friday, September 4th. Suncor Energy’s payout ratio is 32.04%.

Suncor Energy Profile

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.