Suncor Energy (NYSE:SU) Sets New 52-Week High – What’s Next?

Suncor Energy Inc. (NYSE:SU) (TSE:SU) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $61.78 and last traded at $61.3260, with a volume of 5423520 shares. The stock had previously closed at $60.62.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Zacks Research cut Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. JPMorgan Chase & Co. upgraded Suncor Energy from a “neutral” rating to an “overweight” rating and raised their price target for the company from $46.15 to $54.00 in a research note on Tuesday, January 20th. Wall Street Zen downgraded Suncor Energy from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Suncor Energy in a research note on Monday, December 29th. Finally, Royal Bank Of Canada increased their target price on shares of Suncor Energy from $69.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.67.

Suncor Energy Stock Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 0.89. The company has a market cap of $72.97 billion, a PE ratio of 17.67 and a beta of 0.43. The business has a fifty day simple moving average of $53.92 and a two-hundred day simple moving average of $46.39.

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

Suncor Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.9%. Suncor Energy’s dividend payout ratio (DPR) is presently 50.72%.

Hedge Funds Weigh In On Suncor Energy

A number of large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in shares of Suncor Energy by 14.2% in the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock worth $959,000 after buying an additional 3,115 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Suncor Energy by 172.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock worth $77,000 after acquiring an additional 1,254 shares in the last quarter. Allworth Financial LP lifted its position in Suncor Energy by 29.0% during the second quarter. Allworth Financial LP now owns 2,021 shares of the oil and gas producer’s stock valued at $76,000 after acquiring an additional 454 shares during the last quarter. Creative Planning lifted its position in Suncor Energy by 36.2% during the second quarter. Creative Planning now owns 167,318 shares of the oil and gas producer’s stock valued at $6,266,000 after acquiring an additional 44,506 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in Suncor Energy by 3.0% in the second quarter. Cetera Investment Advisers now owns 92,739 shares of the oil and gas producer’s stock valued at $3,473,000 after acquiring an additional 2,703 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

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.