Kerrisdale Advisers LLC Has $324,000 Holdings in Suncor Energy Inc. $SU

Kerrisdale Advisers LLC trimmed its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 63.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,025 shares of the oil and gas producer’s stock after selling 10,525 shares during the period. Kerrisdale Advisers LLC’s holdings in Suncor Energy were worth $324,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc increased its holdings in shares of Suncor Energy by 418.9% in the second 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 bought a new stake in shares of Suncor Energy during the 2nd quarter worth about $31,000. 1 North Wealth Services LLC acquired a new position in Suncor Energy in the 4th quarter valued at about $32,000. Accent Capital Management LLC raised its holdings in Suncor Energy by 37.5% in the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 225 shares during the period. Finally, Summit Securities Group LLC bought a new stake in shares of Suncor Energy during the fourth quarter worth approximately $44,000. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of NYSE SU opened at $65.50 on Monday. The stock has a market capitalization of $77.34 billion, a PE ratio of 12.06, a P/E/G ratio of 0.47 and a beta of 0.29. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08. The business has a fifty day moving average price of $61.93 and a two-hundred day moving average price of $62.11. Suncor Energy Inc. has a fifty-two week low of $37.76 and a fifty-two week high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (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 company had revenue of $13.41 billion for the quarter, compared to analyst estimates of $11.68 billion. During the same period in the prior year, the firm posted $0.71 EPS. As a group, equities analysts predict that Suncor Energy Inc. will post 7.39 earnings per share for the current fiscal 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 paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, September 4th. Suncor Energy’s dividend payout ratio is presently 32.04%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SU shares. Morgan Stanley set a $106.00 target price on Suncor Energy in a research note on Wednesday, August 19th. Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Desjardins upgraded shares of Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. 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. Finally, The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $80.25.

Suncor Energy 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.