Suncor Energy Inc. (NYSE:SU) Shares Purchased by Cidel Asset Management Inc.

Cidel Asset Management Inc. lifted its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 5.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,497,080 shares of the oil and gas producer’s stock after purchasing an additional 131,405 shares during the period. Suncor Energy comprises 2.4% of Cidel Asset Management Inc.’s holdings, making the stock its 13th biggest holding. Cidel Asset Management Inc. owned about 0.17% of Suncor Energy worth $59,871,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Level Four Advisory Services LLC grew its stake in shares of Suncor Energy by 3.1% in the 2nd quarter. Level Four Advisory Services LLC now owns 17,840 shares of the oil and gas producer’s stock worth $428,000 after purchasing an additional 540 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Suncor Energy by 19.1% in the first quarter. Quadrant Capital Group LLC now owns 3,917 shares of the oil and gas producer’s stock worth $82,000 after acquiring an additional 628 shares in the last quarter. Arcadia Investment Management Corp MI increased its position in shares of Suncor Energy by 2.1% in the second quarter. Arcadia Investment Management Corp MI now owns 34,775 shares of the oil and gas producer’s stock worth $834,000 after acquiring an additional 711 shares in the last quarter. Stephenson National Bank & Trust increased its position in shares of Suncor Energy by 6.1% in the second quarter. Stephenson National Bank & Trust now owns 14,570 shares of the oil and gas producer’s stock worth $349,000 after acquiring an additional 834 shares in the last quarter. Finally, First Bank & Trust increased its position in shares of Suncor Energy by 32.7% in the second quarter. First Bank & Trust now owns 4,502 shares of the oil and gas producer’s stock worth $108,000 after acquiring an additional 1,110 shares in the last quarter. 60.20% of the stock is currently owned by institutional investors.

SU has been the topic of several analyst reports. CIBC dropped their target price on shares of Suncor Energy from C$48.00 to C$44.00 and set an “outperform” rating on the stock in a research report on Monday, August 23rd. Scotiabank decreased their price target on shares of Suncor Energy from C$35.00 to C$33.00 and set an “outperform” rating for the company in a report on Thursday, July 29th. The Goldman Sachs Group cut shares of Suncor Energy from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, August 17th. Raymond James initiated coverage on shares of Suncor Energy in a report on Tuesday, July 20th. They set a “buy” rating and a $40.00 price target for the company. Finally, Zacks Investment Research upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating and set a $21.00 price target for the company in a report on Wednesday, September 8th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Suncor Energy currently has an average rating of “Buy” and a consensus price target of $33.17.

SU stock traded up $0.86 on Wednesday, reaching $19.42. 460,476 shares of the company were exchanged, compared to its average volume of 7,623,562. Suncor Energy Inc. has a 12 month low of $10.67 and a 12 month high of $25.73. The stock’s fifty day moving average price is $19.73 and its 200 day moving average price is $21.63. The firm has a market capitalization of $28.80 billion, a PE ratio of 22.91, a PEG ratio of 3.05 and a beta of 1.69. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.04 and a quick ratio of 0.64.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, July 28th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.03. Suncor Energy had a net margin of 5.04% and a return on equity of 4.62%. The business had revenue of $7.40 billion for the quarter, compared to analyst estimates of $6.80 billion. As a group, research analysts expect that Suncor Energy Inc. will post 2 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 24th. Shareholders of record on Friday, September 3rd will be issued a $0.167 dividend. This represents a $0.67 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Thursday, September 2nd. Suncor Energy’s dividend payout ratio (DPR) is presently -60.91%.

Suncor Energy Company Profile

Suncor Energy, Inc is an integrated energy company, which develops petroleum resource basins. Its activities include oil sands development, and upgrading, onshore and offshore oil and gas production, petroleum refining, and product marketing. The company operates through the following business segments: Oil Sands; Exploration & Production; and Refining & Marketing.

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Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

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