Covalis Capital LLP Acquires Shares of 368,696 Suncor Energy Inc. (NYSE:SU)

Covalis Capital LLP bought a new stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 368,696 shares of the oil and gas producer's stock, valued at approximately $13,155,000. Suncor Energy accounts for 1.9% of Covalis Capital LLP's holdings, making the stock its 19th biggest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. HHM Wealth Advisors LLC increased its stake in shares of Suncor Energy by 62.1% in the 4th 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 in the last quarter. Crowley Wealth Management Inc. purchased a new stake in Suncor Energy in the fourth quarter worth about $35,000. Lee Danner & Bass Inc. bought a new position in shares of Suncor Energy in the fourth quarter worth about $36,000. Golden State Wealth Management LLC purchased a new position in shares of Suncor Energy during the 4th quarter valued at about $39,000. Finally, Covestor Ltd grew 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 valued at $39,000 after acquiring an additional 256 shares during the period. 67.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on SU shares. Bank of America began coverage on shares of Suncor Energy in a report on Wednesday, February 26th. They set a "neutral" rating on the stock. Cibc World Mkts upgraded Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 11th. Royal Bank of Canada restated an "outperform" rating and issued a $66.00 price objective on shares of Suncor Energy in a research report on Tuesday, January 7th. StockNews.com cut Suncor Energy from a "buy" rating to a "hold" rating in a research report on Thursday, April 17th. Finally, Tudor Pickering raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $59.20.

Suncor Energy Price Performance

NYSE:SU traded down $0.33 during trading hours on Wednesday, reaching $35.09. The stock had a trading volume of 3,011,507 shares, compared to its average volume of 4,467,358. The stock has a market capitalization of $43.41 billion, a PE ratio of 10.17, a PEG ratio of 2.94 and a beta of 0.79. Suncor Energy Inc. has a 52 week low of $30.79 and a 52 week high of $41.95. The company has a 50 day moving average price of $36.48 and a two-hundred day moving average price of $37.78. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping 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%. As a group, sell-side analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.399 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.60 annualized dividend and a yield of 4.55%. Suncor Energy's payout ratio is currently 45.51%.

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.