Meritage Portfolio Management Takes $3.68 Million Position in Suncor Energy Inc. (NYSE:SU)

Meritage Portfolio Management bought a new position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 99,764 shares of the oil and gas producer's stock, valued at approximately $3,683,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SU. Tyler Stone Wealth Management grew its holdings in Suncor Energy by 92.5% in the third quarter. Tyler Stone Wealth Management now owns 30,570 shares of the oil and gas producer's stock valued at $1,129,000 after purchasing an additional 14,686 shares during the last quarter. Oxbow Advisors LLC purchased a new position in Suncor Energy during the third quarter worth about $3,522,000. Verdence Capital Advisors LLC raised its holdings in shares of Suncor Energy by 13.1% in the 3rd quarter. Verdence Capital Advisors LLC now owns 24,194 shares of the oil and gas producer's stock worth $893,000 after purchasing an additional 2,798 shares during the period. Seascape Capital Management purchased a new position in shares of Suncor Energy in the 3rd quarter worth about $2,272,000. Finally, CWA Asset Management Group LLC purchased a new stake in shares of Suncor Energy during the 3rd quarter valued at about $664,000. Institutional investors and hedge funds own 67.37% of the company's stock.

Analyst Ratings Changes

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

Suncor Energy Stock Down 0.8 %

Shares of SU traded down $0.33 during midday trading on Monday, hitting $38.83. The stock had a trading volume of 3,940,427 shares, compared to its average volume of 4,213,054. The company has a 50 day simple moving average of $38.34 and a two-hundred day simple moving average of $38.75. Suncor Energy Inc. has a twelve month low of $29.45 and a twelve month high of $41.94. The firm has a market cap of $48.99 billion, a price-to-earnings ratio of 9.09, a price-to-earnings-growth ratio of 2.78 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93.

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.