Geode Capital Management LLC Grows Position in Suncor Energy Inc. $SU

Geode Capital Management LLC increased its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 5.8% in the fourth quarter, HoldingsChannel reports. The firm owned 11,969,856 shares of the oil and gas producer’s stock after purchasing an additional 655,772 shares during the quarter. Geode Capital Management LLC’s holdings in Suncor Energy were worth $544,035,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SU. Fisher Asset Management LLC lifted its stake in shares of Suncor Energy by 85.5% in the 3rd quarter. Fisher Asset Management LLC now owns 15,530,965 shares of the oil and gas producer’s stock valued at $649,350,000 after purchasing an additional 7,158,953 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Suncor Energy by 62.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 13,335,239 shares of the oil and gas producer’s stock valued at $557,682,000 after purchasing an additional 5,113,280 shares during the period. Alyeska Investment Group L.P. lifted its stake in shares of Suncor Energy by 334.8% in the 3rd quarter. Alyeska Investment Group L.P. now owns 2,590,863 shares of the oil and gas producer’s stock valued at $108,324,000 after purchasing an additional 1,995,007 shares during the period. Bank of Nova Scotia lifted its stake in shares of Suncor Energy by 63.5% in the 3rd quarter. Bank of Nova Scotia now owns 5,028,399 shares of the oil and gas producer’s stock valued at $210,474,000 after purchasing an additional 1,952,444 shares during the period. Finally, Lazard Asset Management LLC lifted its stake in shares of Suncor Energy by 173.2% in the 3rd quarter. Lazard Asset Management LLC now owns 3,036,031 shares of the oil and gas producer’s stock valued at $126,994,000 after purchasing an additional 1,924,923 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SU. The Goldman Sachs Group raised their price objective on Suncor Energy from $66.00 to $73.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. Royal Bank Of Canada raised their price objective on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, April 1st. ATB Cormark Capital Markets raised Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. Zacks Research raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Finally, Wall Street Zen raised Suncor Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Suncor Energy has a consensus rating of “Buy” and an average target price of $72.00.

Suncor Energy Stock Down 1.5%

SU stock opened at $62.34 on Friday. The firm has a market cap of $73.60 billion, a PE ratio of 16.36 and a beta of 0.31. The business has a 50 day moving average of $65.25 and a 200 day moving average of $55.04. Suncor Energy Inc. has a twelve month low of $35.29 and a twelve month high of $70.29. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The business had revenue of $10.41 billion during the quarter, compared to the consensus estimate of $9.22 billion. Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.During the same period in the previous year, the business posted $1.31 EPS. On average, research analysts forecast that Suncor Energy Inc. will post 7.07 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.9%. Suncor Energy’s dividend payout ratio (DPR) is presently 46.19%.

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.