SCP Investment LP Makes New Investment in Suncor Energy Inc. $SU

SCP Investment LP acquired a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 45,800 shares of the oil and gas producer’s stock, valued at approximately $1,915,000. Suncor Energy comprises about 1.5% of SCP Investment LP’s investment portfolio, making the stock its 10th largest holding.

Several other institutional investors have also modified their holdings of the company. Richardson Financial Services Inc. lifted its holdings in Suncor Energy by 64.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 275 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Suncor Energy during the 2nd quarter worth about $31,000. Hanson & Doremus Investment Management lifted its stake in Suncor Energy by 143.5% during the third quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 465 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake 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 purchasing an additional 388 shares during the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in Suncor Energy in the second quarter valued at approximately $37,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Trading Down 1.6%

NYSE:SU opened at $55.10 on Wednesday. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $56.46. The company has a current ratio of 1.39, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. The stock’s 50 day simple moving average is $48.43 and its 200-day simple moving average is $43.85. The firm has a market cap of $65.57 billion, a P/E ratio of 15.88 and a beta of 0.46.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The firm had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.79 billion. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. During the same period last year, the firm posted $1.25 EPS. Equities analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Wednesday, March 4th. Suncor Energy’s dividend payout ratio is 50.14%.

Analyst Ratings Changes

Several brokerages have recently weighed in on SU. Raymond James Financial upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Wall Street Zen downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Suncor Energy in a research report on Monday, December 29th. Finally, The Goldman Sachs Group boosted their target price on Suncor Energy from $48.00 to $54.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.00.

Suncor Energy Company 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.