Corigliano Investment Advisers LLC Makes New Investment in Suncor Energy Inc. $SU

Corigliano Investment Advisers LLC purchased a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 388,000 shares of the oil and gas producer’s stock, valued at approximately $17,212,000. Suncor Energy makes up 6.1% of Corigliano Investment Advisers LLC’s holdings, making the stock its 4th largest holding.

Several other large investors also recently modified their holdings of SU. Vanguard Group Inc. lifted its position in shares of Suncor Energy by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer’s stock valued at $2,473,173,000 after acquiring an additional 1,166,405 shares during the period. Artisan Partners Limited Partnership grew its holdings in Suncor Energy by 0.4% in the third quarter. Artisan Partners Limited Partnership now owns 33,868,775 shares of the oil and gas producer’s stock worth $1,417,029,000 after purchasing an additional 145,800 shares during the period. Dodge & Cox grew its holdings in Suncor Energy by 0.3% in the third quarter. Dodge & Cox now owns 27,471,954 shares of the oil and gas producer’s stock worth $1,148,602,000 after purchasing an additional 70,300 shares during the period. FIL Ltd increased its stake in Suncor Energy by 14.0% in the fourth quarter. FIL Ltd now owns 21,050,387 shares of the oil and gas producer’s stock valued at $934,312,000 after purchasing an additional 2,592,516 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Suncor Energy by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 19,371,704 shares of the oil and gas producer’s stock valued at $860,933,000 after purchasing an additional 516,783 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Trading Down 3.4%

NYSE:SU opened at $56.19 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. Suncor Energy Inc. has a one year low of $37.22 and a one year high of $70.29. The company has a market cap of $66.34 billion, a PE ratio of 14.75 and a beta of 0.27. The firm has a 50-day moving average of $64.46 and a 200-day moving average of $56.74.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.04). The business had revenue of $10.41 billion during the quarter, compared to the consensus estimate of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same period in the previous year, the business posted $1.31 EPS. As a group, equities research analysts expect that Suncor Energy Inc. will post 7.07 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Thursday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 45.67%.

Wall Street Analyst Weigh In

SU has been the topic of a number of research analyst reports. The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a research report on Friday, June 5th. Weiss Ratings downgraded Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. Zacks Research lowered Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Wall Street Zen cut Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. Finally, Royal Bank Of Canada boosted their price objective on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, April 1st. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Suncor Energy has a consensus rating of “Moderate Buy” and a consensus target price of $71.67.

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.