SIR Capital Management L.P. Takes $12.05 Million Position in Suncor Energy Inc. (NYSE:SU)

SIR Capital Management L.P. purchased a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 337,600 shares of the oil and gas producer’s stock, valued at approximately $12,046,000.

A number of other institutional investors also recently bought and sold shares of SU. Principal Financial Group Inc. raised its stake in shares of Suncor Energy by 39.9% in the fourth quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock valued at $346,298,000 after acquiring an additional 2,767,043 shares during the period. Jupiter Asset Management Ltd. raised its position in Suncor Energy by 2,061.8% in the 4th quarter. Jupiter Asset Management Ltd. now owns 2,438,291 shares of the oil and gas producer’s stock worth $86,990,000 after purchasing an additional 2,325,503 shares during the period. Fisher Asset Management LLC lifted its stake in Suncor Energy by 97.4% in the fourth quarter. Fisher Asset Management LLC now owns 3,734,572 shares of the oil and gas producer’s stock worth $133,250,000 after purchasing an additional 1,842,791 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Suncor Energy by 29.5% during the fourth quarter. Geode Capital Management LLC now owns 7,629,169 shares of the oil and gas producer’s stock valued at $278,537,000 after buying an additional 1,737,573 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Suncor Energy by 104.2% during the fourth quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer’s stock valued at $110,017,000 after buying an additional 1,573,726 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Price Performance

Shares of SU opened at $35.94 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The company has a 50 day moving average price of $35.67 and a 200-day moving average price of $37.35. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $41.95. The stock has a market capitalization of $44.32 billion, a PE ratio of 10.42, a PEG ratio of 2.94 and a beta of 0.79.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $9.10 billion during the quarter, compared to the consensus estimate of $13.39 billion. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. During the same quarter in the previous year, the firm posted $1.41 earnings per share. Equities analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be paid a dividend of $0.4133 per share. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date is Wednesday, June 4th. Suncor Energy’s dividend payout ratio is 45.53%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Cibc World Mkts raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. StockNews.com cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, April 17th. Finally, Bank of America initiated coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating on the stock. Five analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.20.

About Suncor Energy

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.