55,000 Shares in Suncor Energy Inc. (NYSE:SU) Purchased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. bought a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 55,000 shares of the oil and gas producer’s stock, valued at approximately $1,962,000.

Several other institutional investors also recently added to or reduced their stakes in SU. Jones Financial Companies Lllp grew its stake in shares of Suncor Energy by 86.0% in the fourth quarter. Jones Financial Companies Lllp now owns 67,848 shares of the oil and gas producer’s stock worth $2,421,000 after acquiring an additional 31,366 shares during the last quarter. Sage Investment Counsel LLC acquired a new stake in Suncor Energy in the 4th quarter worth $300,000. J.W. Cole Advisors Inc. bought a new position in shares of Suncor Energy during the 4th quarter worth about $236,000. Bank of New York Mellon Corp raised its position in shares of Suncor Energy by 104.2% during the fourth quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer’s stock valued at $110,017,000 after buying an additional 1,573,726 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Suncor Energy by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,457,325 shares of the oil and gas producer’s stock valued at $159,030,000 after buying an additional 99,669 shares during the last quarter. 67.37% of the stock is owned by institutional investors.

Suncor Energy Trading Down 0.9%

Shares of SU stock opened at $35.67 on Friday. The company has a market capitalization of $43.98 billion, a P/E ratio of 10.34, a P/E/G ratio of 2.94 and a beta of 0.79. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $41.95. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $35.68 and a 200 day moving average price of $37.33.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. The company had revenue of $9.10 billion during the quarter, compared to analyst estimates of $13.39 billion. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. During the same quarter last year, the business posted $1.41 earnings per share. Research analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.4133 per share. This represents a $1.65 dividend on an annualized basis and a yield of 4.63%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 45.53%.

Analysts Set New Price Targets

A number of research firms recently weighed in on SU. Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Cibc World Mkts upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. StockNews.com lowered Suncor Energy from a “buy” rating to a “hold” rating in a research note on Thursday, April 17th. Bank of America assumed coverage on shares of Suncor Energy in a research note on Wednesday, February 26th. They set a “neutral” rating on the stock. Finally, Scotiabank upgraded shares of Suncor Energy to a “hold” rating in a research note on Wednesday, March 19th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Suncor Energy has an average rating of “Moderate Buy” and an average price target of $59.20.

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.