Public Employees Retirement System of Ohio Buys Shares of 572,371 Suncor Energy Inc. $SU

Public Employees Retirement System of Ohio bought a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 572,371 shares of the oil and gas producer’s stock, valued at approximately $30,765,000.

Several other institutional investors also recently modified their holdings of SU. Formidable Asset Management LLC boosted its stake 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 raised its holdings in Suncor Energy by 0.8% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 24,278 shares of the oil and gas producer’s stock worth $1,605,000 after purchasing an additional 190 shares during the period. IFP Advisors Inc boosted its position in shares of Suncor Energy by 22.6% during 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 in the last quarter. DGS Capital Management LLC grew its holdings in shares of Suncor Energy by 3.2% in 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 period. Finally, Bryn Mawr Trust Advisors LLC increased 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 valued at $255,000 after buying an additional 196 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Trading Down 1.4%

Shares of NYSE:SU opened at $65.50 on Friday. Suncor Energy Inc. has a 52-week low of $37.76 and a 52-week high of $70.29. The company has a market capitalization of $77.34 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 0.48 and a beta of 0.30. The company has a 50-day simple moving average of $61.93 and a 200 day simple moving average of $62.06. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.65.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, topping the consensus estimate of $2.14 by $0.19. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.The company had revenue of $13.41 billion during the quarter, compared to the consensus estimate of $11.68 billion. During the same period in the previous year, the company posted $0.71 EPS. Sell-side analysts forecast that Suncor Energy Inc. will post 7.39 earnings per share for the current year.

Suncor Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued 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 payout ratio is currently 32.04%.

Analyst Ratings Changes

Several research analysts have weighed in on SU shares. Desjardins upgraded Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. Zacks Research lowered Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Scotiabank raised Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. Morgan Stanley set a $106.00 price objective on shares of Suncor Energy in a report on Wednesday, August 19th. Finally, Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.25.

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.