Recurrent Investment Advisors LLC Boosts Holdings in Suncor Energy Inc. (NYSE:SU)

Recurrent Investment Advisors LLC increased its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 13.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,655,402 shares of the oil and gas producer's stock after purchasing an additional 192,488 shares during the quarter. Suncor Energy makes up approximately 6.1% of Recurrent Investment Advisors LLC's portfolio, making the stock its 5th largest position. Recurrent Investment Advisors LLC owned about 0.13% of Suncor Energy worth $61,979,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Cullen Investment Group LTD. boosted its stake in shares of Suncor Energy by 0.8% during the 3rd quarter. Cullen Investment Group LTD. now owns 33,106 shares of the oil and gas producer's stock valued at $1,222,000 after buying an additional 262 shares during the period. First Horizon Advisors Inc. boosted its position in Suncor Energy by 6.1% during the second quarter. First Horizon Advisors Inc. now owns 4,879 shares of the oil and gas producer's stock valued at $186,000 after purchasing an additional 281 shares during the last quarter. Blue Trust Inc. grew its stake in Suncor Energy by 11.0% in the second quarter. Blue Trust Inc. now owns 3,278 shares of the oil and gas producer's stock valued at $121,000 after purchasing an additional 325 shares in the last quarter. Richardson Financial Services Inc. increased its position in Suncor Energy by 82.8% in the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer's stock worth $28,000 after purchasing an additional 328 shares during the last quarter. Finally, X Square Capital LLC raised its stake in shares of Suncor Energy by 0.5% during the 2nd quarter. X Square Capital LLC now owns 79,664 shares of the oil and gas producer's stock worth $3,035,000 after purchasing an additional 388 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SU has been the topic of a number of research reports. StockNews.com upgraded Suncor Energy from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. Desjardins upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a research note on Thursday, November 14th. BMO Capital Markets raised shares of Suncor Energy from a "market perform" rating to an "outperform" rating in a research note on Wednesday, August 7th. Finally, TD Securities raised shares of Suncor Energy from a "hold" rating to a "buy" rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $56.40.

Suncor Energy Stock Performance

SU stock traded up $0.68 during mid-day trading on Thursday, reaching $39.15. 3,552,912 shares of the stock traded hands, compared to its average volume of 4,313,575. The firm has a market capitalization of $49.26 billion, a PE ratio of 8.53, a P/E/G ratio of 2.57 and a beta of 1.11. The business has a 50-day moving average of $39.23 and a two-hundred day moving average of $38.85. Suncor Energy Inc. has a 52 week low of $29.45 and a 52 week high of $41.94. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be paid a dividend of $0.4089 per share. This is an increase from Suncor Energy's previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, December 3rd. This represents a $1.64 annualized dividend and a yield of 4.18%. Suncor Energy's dividend payout ratio is presently 36.82%.

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.