Strategic Global Advisors LLC Buys New Holdings in Suncor Energy Inc. $SU

Strategic Global Advisors LLC purchased a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,660 shares of the oil and gas producer’s stock, valued at approximately $411,000.

Other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its position in shares of Suncor Energy by 418.9% in the 2nd quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 398 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Suncor Energy in the 2nd quarter valued at $31,000. 1 North Wealth Services LLC purchased a new stake in shares of Suncor Energy during the 4th quarter worth $32,000. Accent Capital Management LLC lifted its position in shares of Suncor Energy by 37.5% during the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 225 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of Suncor Energy during the 4th quarter worth $44,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Up 0.5%

Shares of Suncor Energy stock opened at $65.66 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.65. The company has a market capitalization of $77.53 billion, a P/E ratio of 12.09, a PEG ratio of 0.47 and a beta of 0.30. Suncor Energy Inc. has a 1 year low of $37.76 and a 1 year high of $70.29. The company’s fifty day moving average is $61.50 and its two-hundred day moving average is $61.94.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.19. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. The business had revenue of $13.41 billion during the quarter, compared to analysts’ expectations of $11.68 billion. During the same period in the prior year, the company earned $0.71 earnings per share. Analysts forecast that Suncor Energy Inc. will post 7.39 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 given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.7%. The ex-dividend date is Friday, September 4th. Suncor Energy’s payout ratio is 32.04%.

Analyst Ratings Changes

SU has been the topic of several recent analyst reports. Wall Street Zen lowered Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. The Goldman Sachs Group cut 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. Scotiabank raised Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. Finally, Desjardins upgraded Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $80.25.

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.