Oppenheimer Asset Management Inc. Lowers Position in Suncor Energy Inc. $SU

Oppenheimer Asset Management Inc. lessened its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,138 shares of the oil and gas producer’s stock after selling 518 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Suncor Energy were worth $1,878,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SU. Caitong International Asset Management Co. Ltd bought a new position in Suncor Energy during the 2nd quarter valued at $257,000. 180 Wealth Advisors LLC raised its holdings in shares of Suncor Energy by 4.1% in the second quarter. 180 Wealth Advisors LLC now owns 16,394 shares of the oil and gas producer’s stock valued at $614,000 after purchasing an additional 641 shares during the last quarter. Beverly Hills Private Wealth LLC raised its holdings in shares of Suncor Energy by 6.3% in the second quarter. Beverly Hills Private Wealth LLC now owns 72,752 shares of the oil and gas producer’s stock valued at $2,725,000 after purchasing an additional 4,332 shares during the last quarter. Sentry Investment Management LLC bought a new position in shares of Suncor Energy during the second quarter valued at about $348,000. Finally, TrueMark Investments LLC boosted its holdings in Suncor Energy by 18.3% during the second quarter. TrueMark Investments LLC now owns 32,486 shares of the oil and gas producer’s stock worth $1,217,000 after purchasing an additional 5,014 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of NYSE SU opened at $39.71 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $40.81 and a two-hundred day simple moving average of $38.64. Suncor Energy Inc. has a 1-year low of $30.79 and a 1-year high of $43.48. The firm has a market cap of $47.90 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 3.52 and a beta of 0.78.

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

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th were paid a $0.4135 dividend. The ex-dividend date was Thursday, September 4th. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. This represents a $1.65 annualized dividend and a dividend yield of 4.2%. Suncor Energy’s dividend payout ratio is 50.77%.

Wall Street Analysts Forecast Growth

Several research firms have commented on SU. Royal Bank Of Canada reissued an “outperform” rating and set a $65.00 target price on shares of Suncor Energy in a research report on Friday, October 3rd. Wells Fargo & Company started coverage on Suncor Energy in a report on Friday, October 17th. They set an “equal weight” rating on the stock. Zacks Research downgraded Suncor Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Suncor Energy in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $65.00.

About Suncor Energy

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.