SIR Capital Management L.P. Takes $16.07 Million Position in Suncor Energy Inc. $SU

SIR Capital Management L.P. bought a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 362,318 shares of the oil and gas producer’s stock, valued at approximately $16,072,000. Suncor Energy accounts for 1.8% of SIR Capital Management L.P.’s holdings, making the stock its 20th largest position.

Other hedge funds also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC lifted its holdings in Suncor Energy by 54.9% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 225 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Suncor Energy by 95.8% during the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 388 shares during the period. Headlands Technologies LLC purchased a new stake in Suncor Energy during the second quarter worth $31,000. Accent Capital Management LLC lifted its holdings in Suncor Energy by 37.5% during the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 225 shares during the period. Finally, Maseco LLP purchased a new stake in Suncor Energy during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analysts Set New Price Targets

SU has been the topic of several analyst reports. Weiss Ratings lowered shares of Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. Royal Bank Of Canada lifted their price target on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, April 1st. The Goldman Sachs Group lowered shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target on the stock. in a report on Friday, June 5th. Finally, Zacks Research lowered shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $71.67.

Suncor Energy Price Performance

NYSE SU opened at $61.56 on Friday. The firm’s fifty day simple moving average is $64.94 and its two-hundred day simple moving average is $56.36. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20. Suncor Energy Inc. has a 12-month low of $37.22 and a 12-month high of $70.29. The firm has a market capitalization of $72.69 billion, a P/E ratio of 16.16 and a beta of 0.27.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.04). The firm had revenue of $10.41 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.During the same period in the prior year, the firm posted $1.31 earnings per share. Analysts forecast that Suncor Energy Inc. will post 7.07 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.9%. Suncor Energy’s payout ratio is 45.67%.

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.