Merit Financial Group LLC Acquires Shares of 8,264 Suncor Energy Inc. (NYSE:SU)

Merit Financial Group LLC bought a new position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU during the fourth quarter, according to its most recent filing with the SEC. The fund bought 8,264 shares of the oil and gas producer's stock, valued at approximately $295,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC lifted its holdings in Suncor Energy by 32.3% during the third quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer's stock valued at $3,035,000 after purchasing an additional 20,081 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Suncor Energy by 1,345.8% during the 3rd quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer's stock valued at $17,309,000 after buying an additional 436,016 shares in the last quarter. Aigen Investment Management LP bought a new position in Suncor Energy in the 3rd quarter worth approximately $1,376,000. Assenagon Asset Management S.A. boosted its holdings in Suncor Energy by 1,324.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer's stock worth $123,774,000 after buying an additional 3,225,543 shares during the period. Finally, DRW Securities LLC purchased a new position in Suncor Energy in the 3rd quarter valued at approximately $1,151,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SU has been the topic of a number of recent analyst reports. StockNews.com raised shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Tuesday, January 14th. Royal Bank of Canada reiterated an "outperform" rating and set a $66.00 price target on shares of Suncor Energy in a research report on Tuesday, January 7th. Desjardins raised shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Thursday, November 14th. Finally, Morgan Stanley lowered Suncor Energy from an "overweight" rating to an "equal weight" rating in a research note on Monday, December 16th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.00.

Suncor Energy Trading Down 1.2 %

Shares of NYSE:SU traded down $0.48 on Friday, reaching $38.93. 3,015,133 shares of the company traded hands, compared to its average volume of 3,586,045. The stock has a market capitalization of $48.45 billion, a P/E ratio of 8.48, a price-to-earnings-growth ratio of 3.29 and a beta of 1.12. The business's 50-day simple moving average is $38.05 and its 200 day simple moving average is $38.55. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. Suncor Energy Inc. has a 52 week low of $31.25 and a 52 week high of $41.94.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd were issued a $0.4089 dividend. This is a boost from Suncor Energy's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.64 annualized dividend and a dividend yield of 4.20%. Suncor Energy's dividend payout ratio (DPR) is currently 35.08%.

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.