AlphaCrest Capital Management LLC raised its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 113.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 155,338 shares of the oil and gas producer’s stock after purchasing an additional 82,702 shares during the period. Suncor Energy accounts for approximately 0.8% of AlphaCrest Capital Management LLC’s holdings, making the stock its 6th biggest holding. AlphaCrest Capital Management LLC’s holdings in Suncor Energy were worth $5,038,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its stake in Suncor Energy by 207.8% during the 1st quarter. Rockefeller Capital Management L.P. now owns 3,361 shares of the oil and gas producer’s stock valued at $109,000 after purchasing an additional 2,269 shares during the period. Bluestein R H & Co. boosted its stake in Suncor Energy by 38.9% during the 1st quarter. Bluestein R H & Co. now owns 25,000 shares of the oil and gas producer’s stock valued at $811,000 after purchasing an additional 7,000 shares during the period. NumerixS Investment Technologies Inc acquired a new position in Suncor Energy during the 1st quarter valued at about $442,000. Zions Bancorporation N.A. acquired a new position in Suncor Energy during the 1st quarter valued at about $38,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Suncor Energy by 27.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 7,895 shares of the oil and gas producer’s stock valued at $256,000 after purchasing an additional 1,691 shares during the period. 65.18% of the stock is owned by institutional investors.
SU traded up $0.06 on Wednesday, reaching $31.57. 4,025,453 shares of the company traded hands, compared to its average volume of 3,309,975. The company has a current ratio of 0.88, a quick ratio of 0.56 and a debt-to-equity ratio of 0.34. The stock has a market cap of $49.90 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 1.70 and a beta of 1.14. Suncor Energy Inc. has a 52-week low of $25.81 and a 52-week high of $42.55. The business has a 50 day moving average price of $31.35.
Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Wednesday, May 1st. The oil and gas producer reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.38. The company had revenue of $7.07 billion during the quarter, compared to the consensus estimate of $7.06 billion. Suncor Energy had a net margin of 10.03% and a return on equity of 10.06%. During the same period in the previous year, the firm posted $0.60 earnings per share. On average, sell-side analysts anticipate that Suncor Energy Inc. will post 2.53 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th were given a $0.3121 dividend. This represents a $1.25 annualized dividend and a yield of 3.95%. The ex-dividend date was Monday, June 3rd. Suncor Energy’s dividend payout ratio is 62.00%.
A number of brokerages have recently weighed in on SU. BMO Capital Markets reaffirmed a “buy” rating on shares of Suncor Energy in a research note on Monday. Zacks Investment Research raised shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Monday, May 13th. GMP Securities reaffirmed a “hold” rating and issued a $48.00 price target on shares of Suncor Energy in a research note on Tuesday, May 7th. Raymond James reaffirmed a “buy” rating on shares of Suncor Energy in a research note on Thursday, May 2nd. Finally, Credit Suisse Group raised shares of Suncor Energy from a “neutral” rating to an “outperform” rating in a research note on Thursday, March 14th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Suncor Energy presently has a consensus rating of “Buy” and a consensus target price of $47.48.
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.
Further Reading: Are sell-side analysts objective?
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