Pacifica Partners Inc. Acquires 16,015 Shares of Suncor Energy Inc. $SU

Pacifica Partners Inc. boosted its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 18.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,976 shares of the oil and gas producer’s stock after purchasing an additional 16,015 shares during the period. Suncor Energy comprises about 1.5% of Pacifica Partners Inc.’s portfolio, making the stock its 25th largest holding. Pacifica Partners Inc.’s holdings in Suncor Energy were worth $4,291,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its stake in shares of Suncor Energy by 4,513.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,090,914 shares of the oil and gas producer’s stock worth $45,612,000 after buying an additional 1,067,270 shares during the last quarter. Gradient Investments LLC raised its holdings in Suncor Energy by 28.8% during the third quarter. Gradient Investments LLC now owns 43,623 shares of the oil and gas producer’s stock worth $1,824,000 after acquiring an additional 9,752 shares in the last quarter. Cardinal Capital Management Inc. boosted its position in Suncor Energy by 0.5% during the third quarter. Cardinal Capital Management Inc. now owns 3,641,023 shares of the oil and gas producer’s stock valued at $152,466,000 after purchasing an additional 18,686 shares during the last quarter. Neville Rodie & Shaw Inc. bought a new position in Suncor Energy in the third quarter valued at approximately $220,000. Finally, Osaic Holdings Inc. increased its position in shares of Suncor Energy by 155.2% during the 2nd quarter. Osaic Holdings Inc. now owns 95,051 shares of the oil and gas producer’s stock worth $3,631,000 after purchasing an additional 57,810 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Stock Performance

Shares of SU stock opened at $42.42 on Friday. Suncor Energy Inc. has a 52 week low of $30.79 and a 52 week high of $45.60. The company has a market capitalization of $50.97 billion, a price-to-earnings ratio of 13.91 and a beta of 0.46. The company has a 50-day simple moving average of $42.27 and a 200 day simple moving average of $40.66. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.85 and a current ratio of 1.35.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.22. The company had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.82 billion. Suncor Energy had a return on equity of 13.01% and a net margin of 10.61%.During the same quarter last year, the company earned $1.48 earnings per share. On average, sell-side analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 24th. Investors of record on Wednesday, December 3rd will be given a dividend of $0.60 per share. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. This represents a $2.40 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Wednesday, December 3rd. Suncor Energy’s payout ratio is 56.39%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Suncor Energy in a research note on Monday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $65.00 price target on shares of Suncor Energy in a research note on Friday, October 3rd. 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. Wells Fargo & Company began coverage on shares of Suncor Energy in a research note on Friday, October 17th. They set an “equal weight” rating on the stock. Finally, Zacks Research cut shares of Suncor Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $65.00.

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.