Leigh Baldwin & CO. LLC Makes New $481,000 Investment in Suncor Energy Inc. $SU

Leigh Baldwin & CO. LLC bought a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,957 shares of the oil and gas producer’s stock, valued at approximately $481,000.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Wall Street Zen downgraded shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. Morgan Stanley set a $106.00 price objective on shares of Suncor Energy in a research note on Wednesday. Finally, The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price for the company. in a report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $80.25.

Suncor Energy Trading Up 0.1%

NYSE:SU opened at $68.46 on Monday. The firm has a market cap of $80.83 billion, a P/E ratio of 12.61, a PEG ratio of 0.49 and a beta of 0.29. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. The stock’s 50 day simple moving average is $61.02 and its 200-day simple moving average is $61.67. Suncor Energy Inc. has a 12-month low of $37.76 and a 12-month high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, topping the consensus estimate of $2.14 by $0.19. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.The business had revenue of $13.41 billion during the quarter, compared to analysts’ expectations of $11.68 billion. During the same quarter in the prior year, the business earned $0.71 earnings per share. Equities analysts anticipate that Suncor Energy Inc. will post 7.39 EPS for the current year.

Suncor Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.5%. Suncor Energy’s dividend payout ratio is presently 32.04%.

About Suncor Energy

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.