Summit Global Investments acquired a new position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 66,869 shares of the oil and gas producer's stock, valued at approximately $2,386,000.
A number of other hedge funds have also bought and sold shares of SU. HHM Wealth Advisors LLC grew its position in shares of Suncor Energy by 62.1% in the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer's stock valued at $30,000 after purchasing an additional 325 shares in the last quarter. Lee Danner & Bass Inc. bought a new position in Suncor Energy in the 4th quarter worth about $36,000. Golden State Wealth Management LLC bought a new position in Suncor Energy in the 4th quarter worth about $39,000. Stonebridge Financial Group LLC purchased a new position in Suncor Energy during the 4th quarter valued at about $45,000. Finally, UMB Bank n.a. increased its position in shares of Suncor Energy by 27.5% during the fourth quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer's stock valued at $50,000 after buying an additional 300 shares during the period. 67.37% of the stock is currently owned by hedge funds and other institutional investors.
Suncor Energy Price Performance
Shares of SU stock traded up $0.03 during trading hours on Tuesday, hitting $38.44. 3,054,095 shares of the company's stock were exchanged, compared to its average volume of 4,206,272. The company has a market capitalization of $47.56 billion, a PE ratio of 11.14, a PEG ratio of 2.94 and a beta of 1.11. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. Suncor Energy Inc. has a 12-month low of $33.81 and a 12-month high of $41.95. The business's 50 day simple moving average is $38.18 and its 200-day simple moving average is $38.14.
Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current year.
Suncor Energy Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be given a $0.399 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.60 annualized dividend and a yield of 4.15%. Suncor Energy's payout ratio is currently 45.51%.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. Morgan Stanley cut shares of Suncor Energy from an "overweight" rating to an "equal weight" rating in a research note on Monday, December 16th. Cibc World Mkts raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 11th. Tudor Pickering raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 10th. Bank of America initiated coverage on Suncor Energy in a research report on Wednesday, February 26th. They set a "neutral" rating for the company. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $58.00.
Get Our Latest Analysis on SU
Suncor Energy Profile
(
Free Report)
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.
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