Sequoia Financial Advisors LLC Acquires 18,398 Shares of Suncor Energy Inc. (NYSE:SU)

Sequoia Financial Advisors LLC grew its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 113.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,659 shares of the oil and gas producer’s stock after acquiring an additional 18,398 shares during the period. Sequoia Financial Advisors LLC’s holdings in Suncor Energy were worth $1,280,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SU. Toronto Dominion Bank increased its holdings in shares of Suncor Energy by 59.7% in the first quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock valued at $649,872,000 after purchasing an additional 6,580,260 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Suncor Energy by 90.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock valued at $316,226,000 after purchasing an additional 3,951,287 shares during the period. National Bank of Canada FI increased its position in Suncor Energy by 60.7% during the 2nd quarter. National Bank of Canada FI now owns 8,661,861 shares of the oil and gas producer’s stock valued at $328,876,000 after purchasing an additional 3,272,896 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Suncor Energy by 305.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,725,000 shares of the oil and gas producer’s stock worth $63,687,000 after buying an additional 1,300,000 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in Suncor Energy by 5.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock valued at $956,850,000 after purchasing an additional 1,209,073 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Trading Up 1.2 %

Shares of NYSE:SU opened at $38.97 on Friday. The stock has a market capitalization of $49.93 billion, a price-to-earnings ratio of 8.68, a PEG ratio of 2.78 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46. The stock’s 50-day simple moving average is $38.85 and its two-hundred day simple moving average is $38.74. Suncor Energy Inc. has a 52-week low of $29.45 and a 52-week high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.51. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The business had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $9.30 billion. During the same period last year, the firm posted $0.71 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. Analysts expect that Suncor Energy Inc. will post 3.53 EPS for the current year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were given a dividend of $0.395 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.05%. Suncor Energy’s payout ratio is currently 35.86%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SU. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Scotiabank decreased their price objective on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. StockNews.com downgraded Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Finally, Wolfe Research initiated coverage on Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.83.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.