Morgan Stanley grew its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 6.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,763,373 shares of the oil and gas producer’s stock after purchasing an additional 163,606 shares during the period. Morgan Stanley owned approximately 0.17% of Suncor Energy worth $112,414,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Augustine Asset Management Inc. grew its position in Suncor Energy by 1.3% in the 2nd quarter. Augustine Asset Management Inc. now owns 104,288 shares of the oil and gas producer’s stock worth $4,242,000 after purchasing an additional 1,331 shares during the last quarter. Arcadia Investment Management Corp MI boosted its holdings in shares of Suncor Energy by 1.2% in the second quarter. Arcadia Investment Management Corp MI now owns 113,790 shares of the oil and gas producer’s stock valued at $4,629,000 after acquiring an additional 1,331 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of Suncor Energy by 19.5% in the first quarter. Cubist Systematic Strategies LLC now owns 8,500 shares of the oil and gas producer’s stock valued at $294,000 after acquiring an additional 1,385 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Suncor Energy by 7.6% in the first quarter. Van ECK Associates Corp now owns 20,669 shares of the oil and gas producer’s stock valued at $714,000 after acquiring an additional 1,464 shares in the last quarter. Finally, Synovus Financial Corp boosted its holdings in shares of Suncor Energy by 10.1% in the second quarter. Synovus Financial Corp now owns 16,080 shares of the oil and gas producer’s stock valued at $654,000 after acquiring an additional 1,471 shares in the last quarter. Hedge funds and other institutional investors own 65.14% of the company’s stock.
Several research firms have recently issued reports on SU. Macquarie upgraded shares of Suncor Energy from a “neutral” rating to an “outperform” rating in a report on Tuesday. Zacks Investment Research upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Monday, October 8th. CIBC began coverage on shares of Suncor Energy in a report on Friday, October 5th. They issued a “sector outperform” rating for the company. JPMorgan Chase & Co. cut shares of Suncor Energy from an “overweight” rating to a “neutral” rating in a report on Tuesday, September 11th. Finally, ValuEngine cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $49.43.
NYSE:SU traded up $1.08 during trading hours on Friday, reaching $36.64. 4,436,954 shares of the company’s stock were exchanged, compared to its average volume of 3,343,692. The stock has a market capitalization of $62.58 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 1.54 and a beta of 0.85. Suncor Energy Inc. has a 12 month low of $31.33 and a 12 month high of $42.55. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.56 and a current ratio of 0.90.
Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Wednesday, July 25th. The oil and gas producer reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.16. The firm had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $6.53 billion. Suncor Energy had a net margin of 12.25% and a return on equity of 9.61%. During the same period last year, the firm posted $0.26 earnings per share. On average, sell-side analysts expect that Suncor Energy Inc. will post 2.51 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 25th. Investors of record on Tuesday, September 4th were issued a dividend of $0.274 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date was Friday, August 31st. Suncor Energy’s payout ratio is 72.85%.
Suncor Energy Company Profile
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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