Fisher Asset Management LLC Buys 7,158,953 Shares of Suncor Energy Inc. $SU

Fisher Asset Management LLC boosted its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 85.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,530,965 shares of the oil and gas producer’s stock after purchasing an additional 7,158,953 shares during the period. Fisher Asset Management LLC’s holdings in Suncor Energy were worth $649,350,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Archford Capital Strategies LLC grew its holdings in shares of Suncor Energy by 1.2% during the third quarter. Archford Capital Strategies LLC now owns 23,617 shares of the oil and gas producer’s stock worth $987,000 after buying an additional 272 shares in the last quarter. Richardson Financial Services Inc. grew its stake in shares of Suncor Energy by 64.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after acquiring an additional 275 shares in the last quarter. D Orazio & Associates Inc. raised its holdings in shares of Suncor Energy by 3.9% in the third quarter. D Orazio & Associates Inc. now owns 7,299 shares of the oil and gas producer’s stock valued at $305,000 after purchasing an additional 275 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Suncor Energy by 10.5% in the third quarter. EverSource Wealth Advisors LLC now owns 2,947 shares of the oil and gas producer’s stock valued at $123,000 after purchasing an additional 280 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of Suncor Energy by 0.7% in the third quarter. Advisors Asset Management Inc. now owns 43,083 shares of the oil and gas producer’s stock worth $1,801,000 after purchasing an additional 301 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SU shares. The Goldman Sachs Group raised their target price on shares of Suncor Energy from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. raised Suncor Energy from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $46.15 to $54.00 in a research report on Tuesday, January 20th. Zacks Research cut Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Raymond James Financial raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Suncor Energy in a research report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.00.

Suncor Energy Price Performance

Shares of SU stock opened at $56.50 on Monday. The company has a market cap of $67.23 billion, a P/E ratio of 16.28 and a beta of 0.46. The company has a quick ratio of 0.89, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. The business has a fifty day simple moving average of $50.46 and a 200 day simple moving average of $44.81. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $57.13.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The firm had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.79 billion. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. During the same period in the previous year, the firm posted $1.25 EPS. On average, sell-side analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 50.14%.

About Suncor Energy

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.