Texas Capital Bank Wealth Management Services Inc Purchases New Holdings in Suncor Energy Inc. $SU

Texas Capital Bank Wealth Management Services Inc acquired a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 8,330 shares of the oil and gas producer’s stock, valued at approximately $447,000.

Several other institutional investors also recently bought and sold shares of SU. Versant Capital Management Inc raised its holdings in shares of Suncor Energy by 418.9% during the second quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 398 shares during the last quarter. Atlantic Edge Private Wealth Management LLC boosted its stake in shares of Suncor Energy by 54.9% in 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 acquiring an additional 225 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Suncor Energy in the second quarter worth approximately $31,000. 1 North Wealth Services LLC purchased a new stake in shares of Suncor Energy during the fourth quarter worth approximately $32,000. Finally, Accent Capital Management LLC increased its position in shares of 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 purchasing an additional 225 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Stock Performance

NYSE SU opened at $66.69 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.65. The stock’s fifty day moving average is $60.51 and its two-hundred day moving average is $61.25. The firm has a market capitalization of $78.74 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 0.49 and a beta of 0.29. Suncor Energy Inc. has a fifty-two week low of $37.76 and a fifty-two week high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.19. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.The business had revenue of $13.41 billion during the quarter, compared to the consensus estimate of $11.68 billion. During the same period last year, the company earned $0.71 EPS. On average, research analysts anticipate that Suncor Energy Inc. will post 7.13 earnings per share for the current year.

Suncor Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 32.04%.

Wall Street Analyst Weigh In

SU has been the subject of several recent research reports. Desjardins raised Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Wall Street Zen lowered shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. The Goldman Sachs Group downgraded shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target on the stock. in a research note on Friday, June 5th. Finally, Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $71.67.

About Suncor Energy

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.