Aventail Capital Group LP Invests $10.45 Million in Suncor Energy Inc. $SU

Aventail Capital Group LP acquired a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 235,572 shares of the oil and gas producer’s stock, valued at approximately $10,450,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. IFP Advisors Inc grew its position in shares of Suncor Energy by 22.6% in the 4th quarter. IFP Advisors Inc now owns 1,047 shares of the oil and gas producer’s stock worth $46,000 after buying an additional 193 shares during the last quarter. Bryn Mawr Trust Advisors LLC grew its position in shares of Suncor Energy by 3.5% in the 4th quarter. Bryn Mawr Trust Advisors LLC now owns 5,742 shares of the oil and gas producer’s stock worth $255,000 after buying an additional 196 shares during the last quarter. Chesapeake Capital Corp IL grew its position in shares of Suncor Energy by 0.9% in the 4th quarter. Chesapeake Capital Corp IL now owns 22,741 shares of the oil and gas producer’s stock worth $1,009,000 after buying an additional 203 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of Suncor Energy by 0.7% in the 4th quarter. Quadrant Capital Group LLC now owns 28,748 shares of the oil and gas producer’s stock worth $1,275,000 after buying an additional 212 shares during the last quarter. Finally, Atlantic Edge Private Wealth Management LLC grew its position in shares of Suncor Energy by 54.9% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Price Performance

Suncor Energy stock opened at $56.19 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. Suncor Energy Inc. has a 52-week low of $37.22 and a 52-week high of $70.29. The company has a fifty day simple moving average of $64.46 and a 200-day simple moving average of $56.74. The firm has a market capitalization of $66.34 billion, a price-to-earnings ratio of 14.75 and a beta of 0.27.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The firm had revenue of $10.41 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the prior year, the company posted $1.31 EPS. On average, equities analysts anticipate that Suncor Energy Inc. will post 7.07 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.3%. Suncor Energy’s dividend payout ratio is currently 45.67%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SU shares. ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research note on Friday, June 5th. Royal Bank Of Canada boosted their target price on shares of Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Finally, Wall Street Zen lowered shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.67.

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.