Suncor Energy Inc. (NYSE:SU) Shares Bought by VELA Investment Management LLC

VELA Investment Management LLC raised its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 25.9% during the 3rd quarter, Holdings Channel reports. The firm owned 64,629 shares of the oil and gas producer’s stock after buying an additional 13,301 shares during the quarter. VELA Investment Management LLC’s holdings in Suncor Energy were worth $2,386,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SU. BNP Paribas Financial Markets lifted its position in shares of Suncor Energy by 2,358.4% in the first quarter. BNP Paribas Financial Markets now owns 17,209 shares of the oil and gas producer’s stock valued at $635,000 after acquiring an additional 16,509 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Suncor Energy in the first quarter valued at approximately $2,940,000. Assenagon Asset Management S.A. lifted its position in shares of Suncor Energy by 90.9% in the second quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock valued at $316,226,000 after acquiring an additional 3,951,287 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Suncor Energy by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,529,253 shares of the oil and gas producer’s stock valued at $683,916,000 after acquiring an additional 1,031,542 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of Suncor Energy by 56.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 55,636 shares of the oil and gas producer’s stock valued at $2,054,000 after acquiring an additional 20,101 shares in the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SU has been the topic of a number of analyst reports. Wolfe Research initiated coverage on Suncor Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price objective on the stock. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Scotiabank reduced their price objective on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Finally, StockNews.com downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $55.83.

Suncor Energy Trading Down 0.5 %

Shares of Suncor Energy stock traded down $0.18 on Friday, reaching $37.59. The company had a trading volume of 2,994,754 shares, compared to its average volume of 2,659,714. Suncor Energy Inc. has a 52-week low of $29.45 and a 52-week high of $41.94. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46. The firm’s 50 day moving average price is $38.54 and its two-hundred day moving average price is $38.73. The firm has a market cap of $47.43 billion, a PE ratio of 8.72, a PEG ratio of 2.68 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.51. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The business had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $9.30 billion. During the same period in the previous year, the firm posted $0.71 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. Sell-side analysts predict that Suncor Energy Inc. will post 3.53 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were paid a dividend of $0.395 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.58 dividend on an annualized basis and a yield of 4.20%. Suncor Energy’s dividend payout ratio (DPR) is presently 37.59%.

Suncor Energy Company Profile

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.