Caitong International Asset Management Co. Ltd Makes New $257,000 Investment in Suncor Energy Inc. $SU

Caitong International Asset Management Co. Ltd acquired a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,854 shares of the oil and gas producer’s stock, valued at approximately $257,000.

Several other hedge funds have also made changes to their positions in SU. Maseco LLP acquired a new stake in shares of Suncor Energy during the 2nd quarter worth approximately $32,000. N.E.W. Advisory Services LLC acquired a new position in shares of Suncor Energy in the first quarter valued at $36,000. Wayfinding Financial LLC bought a new position in Suncor Energy in the first quarter worth $42,000. Harbour Investments Inc. boosted its stake in Suncor Energy by 67.0% during the first quarter. Harbour Investments Inc. now owns 1,169 shares of the oil and gas producer’s stock worth $45,000 after buying an additional 469 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in Suncor Energy by 27.6% in the 2nd quarter. IFP Advisors Inc now owns 1,428 shares of the oil and gas producer’s stock valued at $53,000 after buying an additional 309 shares during the period. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Up 1.3%

SU opened at $39.61 on Friday. The firm has a market cap of $47.89 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 3.44 and a beta of 0.78. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26. The firm’s 50-day simple moving average is $40.69 and its 200-day simple moving average is $38.36. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $43.48.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. The firm had revenue of $8.81 billion for the quarter, compared to analyst estimates of $11.56 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same period in the previous year, the business earned $1.27 earnings per share. Equities research analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th were issued a $0.4135 dividend. This represents a $1.65 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Thursday, September 4th. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s dividend payout ratio (DPR) is presently 51.08%.

Analyst Ratings Changes

A number of research firms have recently commented on SU. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Suncor Energy in a report on Friday, October 3rd. Zacks Research cut shares of Suncor Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Wells Fargo & Company initiated coverage on shares of Suncor Energy in a research note on Friday, October 17th. They set an “equal weight” rating for the company. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Suncor Energy in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average price target of $65.00.

Suncor Energy Company Profile

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.