Van ECK Associates Corp raised its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 72.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,640 shares of the oil and gas producer’s stock after purchasing an additional 14,971 shares during the quarter. Van ECK Associates Corp’s holdings in Suncor Energy were worth $1,451,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Bessemer Group Inc. bought a new stake in shares of Suncor Energy during the second quarter worth $111,000. Mount Yale Investment Advisors LLC bought a new stake in shares of Suncor Energy during the first quarter worth $114,000. Gables Capital Management Inc. bought a new stake in shares of Suncor Energy during the first quarter worth $149,000. Signaturefd LLC bought a new stake in shares of Suncor Energy during the first quarter worth $152,000. Finally, Fortis Advisors LLC raised its position in shares of Suncor Energy by 164.7% during the first quarter. Fortis Advisors LLC now owns 4,500 shares of the oil and gas producer’s stock worth $155,000 after acquiring an additional 2,800 shares during the last quarter. Hedge funds and other institutional investors own 65.59% of the company’s stock.
Shares of Suncor Energy stock opened at $38.25 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.90 and a debt-to-equity ratio of 0.30. Suncor Energy Inc. has a 12 month low of $31.33 and a 12 month high of $42.55. The firm has a market cap of $62.77 billion, a P/E ratio of 18.54, a P/E/G ratio of 1.58 and a beta of 0.85.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 25th. Investors of record on Tuesday, September 4th will be paid a dividend of $0.274 per share. The ex-dividend date is Friday, August 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.87%. Suncor Energy’s dividend payout ratio (DPR) is presently 72.85%.
A number of equities research analysts have recently weighed in on SU shares. Morgan Stanley boosted their target price on Suncor Energy from $54.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 23rd. Zacks Investment Research upgraded Suncor Energy from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research report on Thursday, May 24th. AltaCorp Capital downgraded Suncor Energy from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, June 12th. Mizuho started coverage on Suncor Energy in a research report on Monday, July 23rd. They set a “buy” rating for the company. Finally, ValuEngine downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, September 11th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $49.71.
Suncor Energy Company Profile
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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