PDT Partners LLC Makes New $20.10 Million Investment in Suncor Energy Inc. $SU

PDT Partners LLC bought a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 374,452 shares of the oil and gas producer’s stock, valued at approximately $20,101,000. Suncor Energy comprises 1.1% of PDT Partners LLC’s investment portfolio, making the stock its 7th largest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Suncor Energy during the second quarter valued at approximately $816,551,000. The Manufacturers Life Insurance Company bought a new position in Suncor Energy in the 2nd quarter worth approximately $790,952,000. Arrowstreet Capital Limited Partnership raised its position in Suncor Energy by 121.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer’s stock worth $1,724,954,000 after purchasing an additional 14,304,131 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Suncor Energy during the 2nd quarter worth $466,810,000. Finally, AQR Capital Management LLC lifted its holdings in Suncor Energy by 7,636.8% during the 4th quarter. AQR Capital Management LLC now owns 6,016,483 shares of the oil and gas producer’s stock worth $267,042,000 after buying an additional 5,938,719 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SU has been the subject of several research reports. The Goldman Sachs Group cut Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price for the company. in a research note on Friday, June 5th. Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 29th. Zacks Research lowered Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Wall Street Zen cut Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Finally, Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $80.25.

Suncor Energy Stock Performance

SU stock opened at $65.38 on Wednesday. Suncor Energy Inc. has a twelve month low of $37.76 and a twelve month high of $70.29. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19. The company has a market cap of $77.20 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 0.49 and a beta of 0.30. The business’s fifty day moving average is $61.32 and its 200-day moving average is $61.86.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.19. The business had revenue of $13.41 billion during the quarter, compared to analysts’ expectations of $11.68 billion. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.During the same period in the previous year, the firm earned $0.71 earnings per share. Equities research analysts forecast that Suncor Energy Inc. will post 7.39 EPS for the current year.

Suncor Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, September 4th. Suncor Energy’s payout ratio is presently 32.04%.

Suncor Energy 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.