Dynamic Technology Lab Private Ltd Has $1.78 Million Holdings in Suncor Energy Inc. $SU

Dynamic Technology Lab Private Ltd grew its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 353.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,516 shares of the oil and gas producer’s stock after buying an additional 37,034 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Suncor Energy were worth $1,780,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Maseco LLP bought a new stake in Suncor Energy during the second quarter worth approximately $32,000. N.E.W. Advisory Services LLC bought a new position in shares of Suncor Energy in the first quarter valued at approximately $36,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Suncor Energy in the second quarter worth $37,000. Harbour Investments Inc. boosted its holdings in shares of Suncor Energy by 67.0% during the 1st 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 during the period. Finally, MTM Investment Management LLC acquired a new position in Suncor Energy in the 2nd quarter valued at $44,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on SU shares. Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a research note on Thursday, November 13th. Zacks Research lowered shares of Suncor Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Royal Bank Of Canada restated an “outperform” rating and issued a $65.00 price target on shares of Suncor Energy in a research report on Friday, October 3rd. Wells Fargo & Company initiated coverage on shares of Suncor Energy in a research report on Friday, October 17th. They set an “equal weight” rating for the company. Finally, Raymond James Financial upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $65.00.

Suncor Energy Trading Down 0.5%

SU stock opened at $44.99 on Thursday. Suncor Energy Inc. has a 1-year low of $30.79 and a 1-year high of $45.45. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average is $41.36 and its 200-day moving average is $39.43. The firm has a market cap of $54.27 billion, a P/E ratio of 13.84, a P/E/G ratio of 3.52 and a beta of 0.75.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.22. The firm had revenue of $9.04 billion for the quarter, compared to analysts’ expectations of $8.82 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.During the same period in the prior year, the business posted $1.48 earnings per share. Equities analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 24th. Investors of record on Wednesday, December 3rd will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $2.40 annualized dividend and a yield of 5.3%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s payout ratio is 55.74%.

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.