Polar Asset Management Partners Inc. Buys New Shares in Suncor Energy Inc. $SU

Polar Asset Management Partners Inc. purchased a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 53,481 shares of the oil and gas producer’s stock, valued at approximately $2,873,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Formidable Asset Management LLC grew its position in Suncor Energy by 1.1% during the 1st quarter. Formidable Asset Management LLC now owns 16,004 shares of the oil and gas producer’s stock worth $1,058,000 after acquiring an additional 171 shares during the last quarter. Mitchell & Pahl Private Wealth LLC boosted its stake in shares of Suncor Energy by 0.8% during the first quarter. Mitchell & Pahl Private Wealth LLC now owns 24,278 shares of the oil and gas producer’s stock valued at $1,605,000 after purchasing an additional 190 shares during the period. IFP Advisors Inc grew its holdings in shares of Suncor Energy by 22.6% in the fourth quarter. IFP Advisors Inc now owns 1,047 shares of the oil and gas producer’s stock worth $46,000 after purchasing an additional 193 shares during the last quarter. DGS Capital Management LLC raised its holdings in Suncor Energy by 3.2% during the 4th quarter. DGS Capital Management LLC now owns 6,149 shares of the oil and gas producer’s stock valued at $273,000 after buying an additional 193 shares during the last quarter. Finally, Bryn Mawr Trust Advisors LLC boosted its position in Suncor Energy by 3.5% during the 4th quarter. Bryn Mawr Trust Advisors LLC now owns 5,742 shares of the oil and gas producer’s stock valued at $255,000 after buying an additional 196 shares during the period. 67.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SU has been the subject of a number of recent analyst reports. Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price for the company. in a report on Friday, June 5th. Desjardins raised shares of Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Zacks Research lowered shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Suncor Energy has a consensus rating of “Moderate Buy” and a consensus target price of $80.25.

Suncor Energy Price Performance

Shares of NYSE:SU opened at $65.38 on Wednesday. Suncor Energy Inc. has a 1-year low of $37.76 and a 1-year high of $70.29. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08. The business has a fifty day moving average price of $61.32 and a 200-day moving average price of $61.86. The company has a market capitalization of $77.20 billion, a PE ratio of 12.04, a PEG ratio of 0.49 and a beta of 0.30.

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

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a $0.60 dividend. 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 dividend payout ratio is currently 32.04%.

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.