Navellier & Associates Inc. Takes $3.35 Million Position in Suncor Energy Inc. $SU

Navellier & Associates Inc. acquired a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 62,359 shares of the oil and gas producer’s stock, valued at approximately $3,347,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc raised its position in Suncor Energy by 418.9% in the second quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 398 shares during the period. Headlands Technologies LLC bought a new stake in shares of Suncor Energy during the 2nd quarter valued at $31,000. 1 North Wealth Services LLC bought a new stake in shares of Suncor Energy during the 4th quarter valued at $32,000. Accent Capital Management LLC increased its stake in shares of Suncor Energy by 37.5% in the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 225 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in Suncor Energy in the 4th quarter worth $44,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Down 1.4%

Suncor Energy stock opened at $65.50 on Friday. The stock has a market cap of $77.34 billion, a P/E ratio of 12.06, a PEG ratio of 0.48 and a beta of 0.30. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08. Suncor Energy Inc. has a 1 year low of $37.76 and a 1 year high of $70.29. The firm’s 50 day moving average price is $61.93 and its 200-day moving average price is $62.06.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.19. The firm had revenue of $13.41 billion during the quarter, compared to analyst estimates 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 prior year, the business earned $0.71 earnings per share. On average, equities analysts predict that Suncor Energy Inc. will post 7.39 earnings per share for the current fiscal 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 dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, September 4th. Suncor Energy’s dividend payout ratio is 32.04%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SU. Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Zacks Research cut Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Morgan Stanley set a $106.00 price objective on Suncor Energy in a research note on Wednesday, August 19th. Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. Finally, The Goldman Sachs Group downgraded 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Suncor Energy 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.