Seascape Capital Management Invests $2.27 Million in Suncor Energy Inc. (NYSE:SU)

Seascape Capital Management bought a new stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 61,535 shares of the oil and gas producer's stock, valued at approximately $2,272,000.

Other large investors have also recently added to or reduced their stakes in the company. Norden Group LLC acquired a new position in shares of Suncor Energy in the first quarter valued at approximately $399,000. BNP Paribas Financial Markets lifted its position in Suncor Energy by 2,358.4% during the first quarter. BNP Paribas Financial Markets now owns 17,209 shares of the oil and gas producer's stock worth $635,000 after buying an additional 16,509 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Suncor Energy by 2.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 60,892 shares of the oil and gas producer's stock valued at $2,248,000 after purchasing an additional 1,166 shares during the last quarter. Duality Advisers LP lifted its stake in shares of Suncor Energy by 112.4% in the 1st quarter. Duality Advisers LP now owns 31,515 shares of the oil and gas producer's stock valued at $1,163,000 after purchasing an additional 16,680 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Suncor Energy by 56.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 55,636 shares of the oil and gas producer's stock valued at $2,054,000 after acquiring an additional 20,101 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SU. StockNews.com raised Suncor Energy from a "hold" rating to a "buy" rating in a report on Thursday. TD Securities upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a research report on Wednesday, August 7th. Wolfe Research started coverage on Suncor Energy in a research note on Thursday, July 18th. They issued an "outperform" rating and a $68.00 price objective on the stock. Scotiabank cut their target price on shares of Suncor Energy from $61.00 to $60.00 and set a "sector perform" rating for the company in a research note on Friday, July 12th. Finally, BMO Capital Markets upgraded Suncor Energy from a "market perform" rating to an "outperform" rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Suncor Energy has an average rating of "Moderate Buy" and an average target price of $55.83.

Suncor Energy Stock Down 1.1 %

SU traded down $0.44 during trading hours on Friday, hitting $39.16. 2,316,667 shares of the company's stock were exchanged, compared to its average volume of 4,212,940. The stock has a market cap of $49.41 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 2.78 and a beta of 1.12. Suncor Energy Inc. has a 1-year low of $29.45 and a 1-year high of $41.94. The stock's 50-day moving average is $38.34 and its two-hundred day moving average is $38.76. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.51. The business had revenue of $12.90 billion for the quarter, compared to analyst estimates of $9.30 billion. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The firm's revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $0.71 EPS. Sell-side analysts predict that Suncor Energy Inc. will post 3.53 earnings per share for the current fiscal year.

Suncor Energy 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.