Korea Investment CORP Has $49.40 Million Stock Position in Suncor Energy Inc. $SU

Korea Investment CORP raised its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 24.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,321,344 shares of the oil and gas producer’s stock after buying an additional 257,568 shares during the quarter. Korea Investment CORP owned about 0.11% of Suncor Energy worth $49,397,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SU. Shell Asset Management Co. lifted its holdings in shares of Suncor Energy by 65.8% in the second quarter. Shell Asset Management Co. now owns 103,082 shares of the oil and gas producer’s stock valued at $3,854,000 after purchasing an additional 40,892 shares in the last quarter. Focus Partners Wealth grew its holdings in shares of Suncor Energy by 1.3% during the first quarter. Focus Partners Wealth now owns 796,967 shares of the oil and gas producer’s stock worth $30,859,000 after buying an additional 10,514 shares in the last quarter. Ontario Teachers Pension Plan Board raised its position in Suncor Energy by 15.6% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 315,278 shares of the oil and gas producer’s stock valued at $11,818,000 after buying an additional 42,506 shares during the last quarter. Canoe Financial LP bought a new stake in Suncor Energy in the 2nd quarter valued at approximately $9,653,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Suncor Energy by 36.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 944,533 shares of the oil and gas producer’s stock worth $36,572,000 after acquiring an additional 251,298 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Analyst Ratings Changes

SU has been the topic of a number of recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Suncor Energy in a report on Tuesday. Raymond James Financial raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Zacks Research lowered shares of Suncor Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Wells Fargo & Company assumed coverage on shares of Suncor Energy in a research report on Friday, October 17th. They set an “equal weight” rating on the stock. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $65.00 price objective on shares of Suncor Energy in a research note on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

Suncor Energy Price Performance

Shares of NYSE SU opened at $44.47 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average price is $41.60 and its two-hundred day moving average price is $39.80. The company has a market cap of $53.44 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 3.52 and a beta of 0.75. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $45.60.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 EPS for the quarter, topping the consensus estimate of $0.85 by $0.22. The company had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.82 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.During the same period in the previous year, the company posted $1.48 EPS. On average, analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 3rd will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 5.4%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Wednesday, December 3rd. Suncor Energy’s dividend payout ratio (DPR) is presently 55.74%.

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.