Arden Trust Co grew its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 6.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,653 shares of the oil and gas producer’s stock after acquiring an additional 2,514 shares during the quarter. Arden Trust Co’s holdings in Suncor Energy were worth $509,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Kore Private Wealth LLC grew its holdings in shares of Suncor Energy by 3,061.7% during the second quarter. Kore Private Wealth LLC now owns 1,486 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 1,439 shares during the last quarter. Rosenberg Matthew Hamilton acquired a new stake in Suncor Energy during the 2nd quarter worth about $28,000. First Command Bank acquired a new stake in Suncor Energy during the 2nd quarter worth about $32,000. Balentine LLC purchased a new stake in Suncor Energy during the 1st quarter valued at about $33,000. Finally, First Bank & Trust increased its holdings in shares of Suncor Energy by 108.5% in the second quarter. First Bank & Trust now owns 2,581 shares of the oil and gas producer’s stock valued at $44,000 after purchasing an additional 1,343 shares during the period. 65.09% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently commented on the company. TD Securities dropped their target price on Suncor Energy from $32.00 to $31.00 and set a “buy” rating on the stock in a research report on Friday, September 18th. Royal Bank of Canada dropped their price objective on shares of Suncor Energy from $28.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, September 9th. Wells Fargo & Company reiterated a “buy” rating on shares of Suncor Energy in a research note on Tuesday, September 15th. Credit Suisse Group restated a “buy” rating on shares of Suncor Energy in a research report on Thursday, July 30th. Finally, ValuEngine lowered Suncor Energy from a “buy” rating to a “hold” rating in a research note on Monday, August 3rd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $30.45.
Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, July 22nd. The oil and gas producer reported ($0.98) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.44) by ($0.54). Suncor Energy had a positive return on equity of 0.44% and a negative net margin of 17.17%. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $4.07 billion. On average, sell-side analysts expect that Suncor Energy Inc. will post -1.08 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were issued a dividend of $0.1565 per share. This represents a $0.63 annualized dividend and a yield of 5.27%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, September 3rd. Suncor Energy’s dividend payout ratio (DPR) is presently 30.19%.
Suncor Energy 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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