CIBC Asset Management Inc Acquires 180,533 Shares of Suncor Energy Inc. (NYSE:SU)

CIBC Asset Management Inc grew its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,942,455 shares of the oil and gas producer's stock after acquiring an additional 180,533 shares during the quarter. Suncor Energy comprises about 1.7% of CIBC Asset Management Inc's investment portfolio, making the stock its 15th largest holding. CIBC Asset Management Inc owned about 1.10% of Suncor Energy worth $516,728,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. OneDigital Investment Advisors LLC increased its stake in Suncor Energy by 137.6% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 27,611 shares of the oil and gas producer's stock valued at $1,019,000 after buying an additional 15,991 shares during the period. Metis Global Partners LLC lifted its position in Suncor Energy by 4.6% in the third quarter. Metis Global Partners LLC now owns 76,110 shares of the oil and gas producer's stock worth $2,809,000 after purchasing an additional 3,350 shares during the period. Zions Bancorporation N.A. boosted its stake in Suncor Energy by 67.6% during the 3rd quarter. Zions Bancorporation N.A. now owns 23,761 shares of the oil and gas producer's stock valued at $877,000 after purchasing an additional 9,582 shares in the last quarter. D Orazio & Associates Inc. bought a new stake in shares of Suncor Energy in the 3rd quarter worth $202,000. Finally, Simmons Bank lifted its holdings in shares of Suncor Energy by 9.1% in the third quarter. Simmons Bank now owns 42,613 shares of the oil and gas producer's stock valued at $1,573,000 after buying an additional 3,547 shares during the period. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Price Performance

NYSE SU traded down $0.17 on Friday, reaching $40.27. The company's stock had a trading volume of 2,523,836 shares, compared to its average volume of 4,262,731. Suncor Energy Inc. has a 52 week low of $29.45 and a 52 week high of $41.94. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $38.34 and a 200 day moving average price of $38.75. The firm has a market cap of $50.81 billion, a PE ratio of 8.85, a price-to-earnings-growth ratio of 2.81 and a beta of 1.12.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be given a $0.4089 dividend. The ex-dividend date is Tuesday, December 3rd. This is a positive change from Suncor Energy's previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 4.06%. Suncor Energy's payout ratio is 35.29%.

Wall Street Analysts Forecast Growth

SU has been the subject of a number of research reports. StockNews.com upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Thursday, November 7th. Wolfe Research began coverage on shares of Suncor Energy in a research note on Thursday, July 18th. They set an "outperform" rating and a $68.00 target price on the stock. BMO Capital Markets raised Suncor Energy from a "market perform" rating to an "outperform" rating in a research note on Wednesday, August 7th. Desjardins upgraded Suncor Energy from a "hold" rating to a "buy" rating in a report on Thursday. Finally, TD Securities upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Suncor Energy presently has an average rating of "Moderate Buy" and a consensus price target of $56.40.

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.