2,809 Shares in Suncor Energy Inc. (NYSE:SU) Acquired by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB purchased a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,809 shares of the oil and gas producer’s stock, valued at approximately $104,000.

A number of other hedge funds have also modified their holdings of SU. Allspring Global Investments Holdings LLC grew its position in shares of Suncor Energy by 16.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 77,434 shares of the oil and gas producer’s stock worth $2,950,000 after purchasing an additional 11,040 shares in the last quarter. Gold Investment Management Ltd. grew its holdings in Suncor Energy by 0.5% during the 2nd quarter. Gold Investment Management Ltd. now owns 143,584 shares of the oil and gas producer’s stock valued at $5,472,000 after buying an additional 733 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Suncor Energy during the second quarter valued at approximately $27,000. Atomi Financial Group Inc. lifted its holdings in shares of Suncor Energy by 48.5% in the second quarter. Atomi Financial Group Inc. now owns 13,048 shares of the oil and gas producer’s stock worth $497,000 after buying an additional 4,262 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of Suncor Energy by 57.5% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 49,000 shares of the oil and gas producer’s stock worth $1,867,000 after acquiring an additional 17,884 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a research note on Friday. StockNews.com downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research note on Monday, December 16th. Finally, Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Suncor Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Suncor Energy Price Performance

Shares of Suncor Energy stock opened at $34.50 on Friday. The stock has a 50 day moving average price of $38.68 and a 200-day moving average price of $38.57. Suncor Energy Inc. has a one year low of $31.03 and a one year high of $41.94. The stock has a market cap of $43.41 billion, a price-to-earnings ratio of 7.52, a price-to-earnings-growth ratio of 2.43 and a beta of 1.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.4089 per share. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 4.74%. Suncor Energy’s payout ratio is 36.60%.

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.