Suncor Energy Inc. (NYSE:SU) Shares Purchased by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC grew its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 250.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,811 shares of the oil and gas producer’s stock after acquiring an additional 14,163 shares during the period. CIBC Private Wealth Group LLC’s holdings in Suncor Energy were worth $759,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of 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 valued at $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 valued at approximately $35,000. Lee Danner & Bass Inc. acquired a new stake in shares of Suncor Energy during the fourth quarter worth approximately $36,000. Golden State Wealth Management LLC bought a new stake in shares of Suncor Energy in the fourth quarter worth $39,000. Finally, Stonebridge Financial Group LLC acquired a new stake in Suncor Energy in the fourth quarter valued at $45,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SU shares. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday. Scotiabank raised Suncor Energy to a “hold” rating in a report on Wednesday, March 19th. Finally, Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Suncor Energy currently has an average rating of “Moderate Buy” and an average price target of $59.20.

Suncor Energy Trading Down 9.8 %

NYSE:SU opened at $33.19 on Friday. The firm has a market capitalization of $41.06 billion, a P/E ratio of 9.62, a P/E/G ratio of 2.94 and a beta of 1.11. The business has a 50 day simple moving average of $37.94 and a 200 day simple moving average of $38.20. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86. Suncor Energy Inc. has a 12-month low of $32.78 and a 12-month high of $41.95.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. Equities research analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.399 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.81%. Suncor Energy’s dividend payout ratio (DPR) is presently 45.51%.

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.