State of Wyoming Raises Stock Position in Suncor Energy Inc. (NYSE:SU)

State of Wyoming increased its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 30.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,811 shares of the oil and gas producer’s stock after purchasing an additional 7,990 shares during the quarter. State of Wyoming’s holdings in Suncor Energy were worth $1,206,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC boosted its holdings in Suncor Energy by 62.1% in the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock worth $30,000 after purchasing an additional 325 shares during the last quarter. Crowley Wealth Management Inc. purchased a new position in shares of Suncor Energy during the 4th quarter worth $35,000. Lee Danner & Bass Inc. purchased a new position in shares of Suncor Energy during the 4th quarter worth $36,000. Golden State Wealth Management LLC purchased a new position in shares of Suncor Energy during the 4th quarter worth $39,000. Finally, Covestor Ltd boosted its stake in shares of Suncor Energy by 30.5% during the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock worth $39,000 after acquiring an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Shares of NYSE SU opened at $35.67 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 market cap of $43.98 billion, a P/E ratio of 10.34, a P/E/G ratio of 2.94 and a beta of 0.79. The firm’s fifty day moving average is $35.68 and its two-hundred day moving average is $37.33. Suncor Energy Inc. has a 52-week low of $30.79 and a 52-week high of $41.95.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $9.10 billion for 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 period in the previous year, the firm posted $1.41 EPS. As a group, analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be issued a $0.4133 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.65 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend is Wednesday, June 4th. Suncor Energy’s payout ratio is currently 45.53%.

Analysts Set New Price Targets

SU has been the topic of several analyst reports. Scotiabank upgraded shares of Suncor Energy to a “hold” rating in a research note on Wednesday, March 19th. Bank of America assumed coverage on shares of Suncor Energy in a research note on Wednesday, February 26th. They set a “neutral” rating on the stock. Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Finally, Cibc World Mkts upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $59.20.

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.