DRW Securities LLC Makes New $1.15 Million Investment in Suncor Energy Inc. (NYSE:SU)

DRW Securities LLC purchased a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 31,183 shares of the oil and gas producer’s stock, valued at approximately $1,151,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its position in Suncor Energy by 5.1% in the second quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock worth $956,850,000 after buying an additional 1,209,073 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Suncor Energy by 1.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 23,048,048 shares of the oil and gas producer’s stock worth $878,131,000 after buying an additional 366,432 shares during the last quarter. Toronto Dominion Bank grew its position in Suncor Energy by 3.4% in the second quarter. Toronto Dominion Bank now owns 18,212,767 shares of the oil and gas producer’s stock worth $693,906,000 after buying an additional 605,833 shares during the last quarter. CIBC Asset Management Inc grew its position in Suncor Energy by 1.3% in the third quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock worth $516,728,000 after buying an additional 180,533 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Suncor Energy by 23.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock worth $357,827,000 after purchasing an additional 1,829,936 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Down 2.1 %

SU stock opened at $40.67 on Tuesday. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. Suncor Energy Inc. has a 1 year low of $29.45 and a 1 year high of $41.94. The company has a fifty day simple moving average of $38.94 and a 200 day simple moving average of $38.86. The firm has a market cap of $51.17 billion, a PE ratio of 8.86, a PEG ratio of 2.74 and a beta of 1.12.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be paid a $0.4089 dividend. This represents a $1.64 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s payout ratio is presently 35.29%.

Analysts Set New Price Targets

SU has been the topic of several research analyst reports. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Finally, Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.40.

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.