Adirondack Trust Co. Increases Stock Position in Suncor Energy Inc. (NYSE:SU)

Adirondack Trust Co. increased its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 45.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,000 shares of the oil and gas producer’s stock after buying an additional 313 shares during the period. Adirondack Trust Co.’s holdings in Suncor Energy were worth $34,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. purchased a new stake in Suncor Energy during the fourth quarter worth $25,000. Richardson Financial Services Inc. acquired a new position in Suncor Energy during the fourth quarter worth $25,000. Optiver Holding B.V. acquired a new position in Suncor Energy during the third quarter worth $29,000. Benjamin F. Edwards & Company Inc. raised its position in Suncor Energy by 43.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 313 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in Suncor Energy during the fourth quarter worth $38,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Trading Up 1.8 %

Shares of SU stock opened at $37.01 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 0.97. The firm has a market cap of $47.59 billion, a PE ratio of 8.24, a price-to-earnings-growth ratio of 3.45 and a beta of 1.11. The company has a 50-day moving average of $38.86 and a two-hundred day moving average of $35.41. Suncor Energy Inc. has a 1-year low of $28.07 and a 1-year high of $41.50.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.15. The company had revenue of $9.29 billion during the quarter, compared to analyst estimates of $8.64 billion. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. On average, analysts predict that Suncor Energy Inc. will post 3.52 EPS for the current year.

Suncor Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th will be paid a $0.395 dividend. This represents a $1.58 annualized dividend and a dividend yield of 4.27%. The ex-dividend date is Tuesday, June 4th. Suncor Energy’s payout ratio is 35.19%.

Wall Street Analyst Weigh In

SU has been the subject of a number of research analyst reports. Morgan Stanley upped their price objective on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. TD Securities upped their price objective on shares of Suncor Energy from $52.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, May 22nd. The Goldman Sachs Group upped their price objective on shares of Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Raymond James upgraded shares of Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. Finally, StockNews.com cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $51.67.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.