Lifetime Wealth Management P.C. Acquires New Position in Suncor Energy Inc. $SU

Lifetime Wealth Management P.C. acquired a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 7,715 shares of the oil and gas producer’s stock, valued at approximately $414,000.

A number of other large investors have also recently made changes to their positions in the business. Versant Capital Management Inc lifted its holdings 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 acquiring an additional 398 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Suncor Energy in the second quarter worth approximately $31,000. 1 North Wealth Services LLC purchased a new stake in shares of Suncor Energy in the fourth quarter worth approximately $32,000. Accent Capital Management LLC lifted its stake 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 acquiring an additional 225 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of Suncor Energy during the 4th quarter worth approximately $44,000. 67.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SU has been the subject of several recent analyst reports. The Goldman Sachs Group downgraded shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price for the company. in a research note on Friday, June 5th. Morgan Stanley set a $106.00 target price on shares of Suncor Energy in a research note on Wednesday, August 19th. Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 29th. Finally, Desjardins upgraded Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued 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 Stock Up 1.2%

Shares of NYSE SU opened at $66.43 on Friday. The firm’s 50-day moving average is $61.73 and its two-hundred day moving average is $62.03. The company has a market capitalization of $78.44 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 0.47 and a beta of 0.30. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08. Suncor Energy Inc. has a 12-month low of $37.76 and a 12-month high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.19. The business had revenue of $13.41 billion during the quarter, compared to analyst estimates of $11.68 billion. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.During the same quarter last year, the firm earned $0.71 earnings per share. Equities analysts anticipate that Suncor Energy Inc. will post 7.39 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors 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 dividend yield of 3.6%. The ex-dividend date is Friday, September 4th. Suncor Energy’s payout ratio is currently 32.04%.

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.