Ritholtz Wealth Management Buys 5,511 Shares of Suncor Energy Inc. (NYSE:SU)

Ritholtz Wealth Management increased its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 5.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 115,466 shares of the oil and gas producer’s stock after purchasing an additional 5,511 shares during the period. Ritholtz Wealth Management’s holdings in Suncor Energy were worth $4,263,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Cullen Investment Group LTD. lifted its holdings in Suncor Energy by 0.8% during the third quarter. Cullen Investment Group LTD. now owns 33,106 shares of the oil and gas producer’s stock valued at $1,222,000 after purchasing an additional 262 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of Suncor Energy by 6.1% during the second quarter. First Horizon Advisors Inc. now owns 4,879 shares of the oil and gas producer’s stock valued at $186,000 after buying an additional 281 shares during the last quarter. Adirondack Trust Co. increased its stake in Suncor Energy by 45.6% in the 4th quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 313 shares during the period. Independence Bank of Kentucky raised its stake in shares of Suncor Energy by 6.7% during the first quarter. Independence Bank of Kentucky now owns 5,050 shares of the oil and gas producer’s stock valued at $186,000 after acquiring an additional 315 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Suncor Energy by 11.0% during the 2nd quarter. Blue Trust Inc. now owns 3,278 shares of the oil and gas producer’s stock worth $121,000 after buying an additional 325 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Price Performance

Shares of SU traded down $0.07 during trading hours on Friday, reaching $40.39. The company had a trading volume of 2,482,992 shares, compared to its average volume of 4,386,714. The company has a market capitalization of $51.15 billion, a price-to-earnings ratio of 9.37, a PEG ratio of 2.66 and a beta of 1.12. Suncor Energy Inc. has a 12-month low of $29.45 and a 12-month high of $41.94. The firm has a 50 day simple moving average of $38.96 and a 200-day simple moving average of $38.65. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.51. The company had revenue of $12.90 billion for the quarter, compared to analyst estimates of $9.30 billion. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 EPS. Research analysts expect that Suncor Energy Inc. will post 3.71 earnings per share for the current year.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were paid a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend was Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is 37.59%.

Wall Street Analysts Forecast Growth

SU has been the subject of a number of recent research reports. Wolfe Research began coverage on shares of Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 target price for the company. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Scotiabank lowered their price target on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Finally, StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Saturday, September 28th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.83.

Suncor Energy 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.