VELA Investment Management LLC Has $2.41 Million Stake in Suncor Energy Inc. $SU

VELA Investment Management LLC trimmed its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 12.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,368 shares of the oil and gas producer’s stock after selling 7,631 shares during the period. VELA Investment Management LLC’s holdings in Suncor Energy were worth $2,412,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC grew its position in Suncor Energy by 54.9% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 225 shares during the last quarter. Richardson Financial Services Inc. grew its position in Suncor Energy by 64.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 275 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Suncor Energy by 95.8% in the 3rd 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. Headlands Technologies LLC acquired a new stake in Suncor Energy in the 2nd quarter worth $31,000. Finally, Maseco LLP acquired a new stake in Suncor Energy in the 4th quarter worth $39,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SU has been the topic of several research analyst reports. Royal Bank Of Canada raised their price target on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. The Goldman Sachs Group raised their price objective on shares of Suncor Energy from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. JPMorgan Chase & Co. raised shares of Suncor Energy from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $46.15 to $54.00 in a report on Tuesday, January 20th. Finally, ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s 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 Price Performance

NYSE:SU opened at $67.58 on Friday. Suncor Energy Inc. has a 52 week low of $33.50 and a 52 week high of $68.62. The company has a market capitalization of $80.03 billion, a price-to-earnings ratio of 19.48 and a beta of 0.31. The company has a 50-day moving average of $62.02 and a 200-day moving average of $51.51. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.39.

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 the consensus estimate of $0.77 by $0.02. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. The firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.79 billion. During the same period last year, the firm posted $1.25 EPS. As a group, equities research analysts anticipate that Suncor Energy Inc. will post 6.72 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 50.72%.

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.