Silvercrest Asset Management Group LLC Purchases 5,265 Shares of Suncor Energy Inc. (NYSE:SU)

Silvercrest Asset Management Group LLC increased its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 5.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 107,052 shares of the oil and gas producer’s stock after purchasing an additional 5,265 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Suncor Energy were worth $3,819,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SU. HHM Wealth Advisors LLC lifted its holdings in shares of Suncor Energy by 62.1% during the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after acquiring an additional 325 shares during the period. Crowley Wealth Management Inc. bought a new position in shares of Suncor Energy during the fourth quarter valued at $35,000. Lee Danner & Bass Inc. bought a new position in shares of Suncor Energy during the fourth quarter valued at $36,000. Golden State Wealth Management LLC bought a new position in shares of Suncor Energy during the fourth quarter valued at $39,000. Finally, Covestor Ltd lifted its holdings in shares of Suncor Energy by 30.5% during the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock valued at $39,000 after acquiring an additional 256 shares during the period. 67.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SU shares. Bank of America started coverage on Suncor Energy in a report on Wednesday, February 26th. They set a “neutral” rating for the company. Scotiabank raised Suncor Energy to a “hold” rating in a report on Wednesday, March 19th. Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Finally, Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $59.20.

Suncor Energy Stock Performance

Shares of NYSE:SU opened at $35.38 on Tuesday. The stock has a market capitalization of $43.63 billion, a P/E ratio of 10.26, a P/E/G ratio of 2.94 and a beta of 0.79. Suncor Energy Inc. has a 1-year low of $30.79 and a 1-year high of $41.95. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average price of $35.67 and a two-hundred day moving average price of $37.31.

Suncor Energy (NYSE:SU) (TSE:SU) last announced 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 firm had revenue of $9.10 billion during the quarter, compared to analysts’ expectations of $13.39 billion. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. During the same period in the previous year, the business posted $1.41 EPS. Equities analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.4133 per share. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.65 annualized dividend and a yield of 4.67%. The ex-dividend date of this dividend is Wednesday, June 4th. Suncor Energy’s payout ratio is currently 45.53%.

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.