Suncor Energy Inc. $SU Position Increased by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. increased its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 60.8% during the 4th quarter, HoldingsChannel reports. The firm owned 1,302,198 shares of the oil and gas producer’s stock after acquiring an additional 492,138 shares during the period. Clark Capital Management Group Inc.’s holdings in Suncor Energy were worth $57,766,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in SU. AQR Capital Management LLC lifted its holdings in shares of Suncor Energy by 14.2% in the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock worth $959,000 after purchasing an additional 3,115 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Suncor Energy by 172.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock worth $77,000 after purchasing an additional 1,254 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Suncor Energy by 21.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer’s stock worth $100,000 after purchasing an additional 464 shares during the last quarter. AXA S.A. lifted its holdings in shares of Suncor Energy by 17.2% in the 2nd quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer’s stock worth $1,883,000 after purchasing an additional 7,395 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Suncor Energy by 6.4% in the 2nd quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer’s stock worth $2,514,000 after purchasing an additional 4,043 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Down 2.5%

Shares of Suncor Energy stock opened at $58.14 on Wednesday. The business’s fifty day moving average price is $64.66 and its two-hundred day moving average price is $56.65. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. The company has a market capitalization of $68.65 billion, a P/E ratio of 15.26 and a beta of 0.27. Suncor Energy Inc. has a 1-year low of $37.22 and a 1-year high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.04). The business had revenue of $10.41 billion for the quarter, compared to the consensus estimate of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same period in the previous year, the firm earned $1.31 EPS. As a group, research analysts forecast that Suncor Energy Inc. will post 7.07 EPS for the current year.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $2.40 annualized dividend and a yield of 4.1%. Suncor Energy’s payout ratio is presently 45.41%.

Analysts Set New Price Targets

SU has been the topic of several recent research reports. Royal Bank Of Canada raised their price target on Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, April 1st. Wall Street Zen downgraded Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. ATB Cormark Capital Markets raised Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target on the stock. in a report on Friday, June 5th. Finally, Weiss Ratings downgraded Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Suncor Energy presently has an average rating of “Moderate Buy” and an average price target of $71.67.

Suncor Energy Company Profile

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.