Occidental Asset Management LLC Makes New Investment in Suncor Energy Inc. $SU

Occidental Asset Management LLC acquired a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 15,231 shares of the oil and gas producer’s stock, valued at approximately $818,000.

Other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in Suncor Energy by 14.2% in the first quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock valued at $959,000 after purchasing an additional 3,115 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Suncor Energy by 172.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock valued at $77,000 after purchasing an additional 1,254 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Suncor Energy by 21.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer’s stock worth $100,000 after purchasing an additional 464 shares in the last quarter. AXA S.A. raised its holdings in Suncor Energy by 17.2% during the second quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer’s stock worth $1,883,000 after purchasing an additional 7,395 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Suncor Energy by 6.4% during the 2nd quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer’s stock worth $2,514,000 after buying an additional 4,043 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of SU opened at $66.69 on Tuesday. 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 Inc. has a fifty-two week low of $37.76 and a fifty-two week high of $70.29. The firm has a 50-day simple moving average of $60.51 and a 200-day simple moving average of $61.25. The company has a market capitalization of $78.74 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 0.49 and a beta of 0.29.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.19. The company had revenue of $13.41 billion during the quarter, compared to analysts’ expectations of $11.68 billion. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.During the same period last year, the firm earned $0.71 EPS. On average, equities research analysts anticipate that Suncor Energy Inc. will post 7.13 earnings per share for the current year.

Suncor Energy Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SU. Desjardins upgraded shares of Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. The Goldman Sachs Group lowered shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target on the stock. in a research note on Friday, June 5th. Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. Finally, Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.67.

Suncor Energy Company 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.