Quantitative Investment Management LLC Purchases New Position in Suncor Energy Inc. $SU

Quantitative Investment Management LLC purchased a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 38,951 shares of the oil and gas producer’s stock, valued at approximately $2,090,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Formidable Asset Management LLC boosted its holdings in Suncor Energy by 1.1% during the first quarter. Formidable Asset Management LLC now owns 16,004 shares of the oil and gas producer’s stock worth $1,058,000 after buying an additional 171 shares in the last quarter. Mitchell & Pahl Private Wealth LLC increased its holdings in Suncor Energy by 0.8% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 24,278 shares of the oil and gas producer’s stock valued at $1,605,000 after buying an additional 190 shares in the last quarter. IFP Advisors Inc raised its position in shares of Suncor Energy by 22.6% in the fourth quarter. IFP Advisors Inc now owns 1,047 shares of the oil and gas producer’s stock worth $46,000 after acquiring an additional 193 shares during the period. DGS Capital Management LLC raised its position in shares of Suncor Energy by 3.2% in the fourth quarter. DGS Capital Management LLC now owns 6,149 shares of the oil and gas producer’s stock worth $273,000 after acquiring an additional 193 shares during the period. Finally, Bryn Mawr Trust Advisors LLC boosted its stake in shares of Suncor Energy by 3.5% during the 4th quarter. Bryn Mawr Trust Advisors LLC now owns 5,742 shares of the oil and gas producer’s stock worth $255,000 after acquiring an additional 196 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Desjardins upgraded Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Wall Street Zen lowered Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.25.

Suncor Energy Price Performance

Suncor Energy stock opened at $66.82 on Tuesday. Suncor Energy Inc. has a 1 year low of $37.76 and a 1 year high of $70.29. The company’s 50 day simple moving average is $62.14 and its 200-day simple moving average is $62.20. The company has a market capitalization of $78.90 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 0.47 and a beta of 0.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.65.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.19. The firm had revenue of $13.41 billion for the quarter, compared to analyst estimates of $11.68 billion. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.During the same quarter in the prior year, the company earned $0.71 EPS. As a group, equities research analysts expect that Suncor Energy Inc. will post 7.39 earnings per share for the current year.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.40 annualized dividend and a yield of 3.6%. Suncor Energy’s dividend payout ratio (DPR) is 32.04%.

Suncor Energy 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.