Royal Fund Management LLC Buys 7,300 Shares of Suncor Energy Inc. (NYSE:SU)

Royal Fund Management LLC boosted its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 54.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,732 shares of the oil and gas producer’s stock after purchasing an additional 7,300 shares during the quarter. Royal Fund Management LLC’s holdings in Suncor Energy were worth $765,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC raised its stake in Suncor Energy by 10.7% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 29,873 shares of the oil and gas producer’s stock valued at $957,000 after purchasing an additional 2,895 shares in the last quarter. Vanguard Group Inc. raised its stake in Suncor Energy by 1.5% in the third quarter. Vanguard Group Inc. now owns 50,379,614 shares of the oil and gas producer’s stock valued at $1,732,051,000 after purchasing an additional 731,163 shares in the last quarter. Sanders Capital LLC raised its stake in Suncor Energy by 2.8% in the fourth quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock valued at $1,836,470,000 after purchasing an additional 1,568,629 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Suncor Energy by 13.3% in the third quarter. JPMorgan Chase & Co. now owns 5,348,348 shares of the oil and gas producer’s stock valued at $183,876,000 after purchasing an additional 628,262 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Suncor Energy by 1,689.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 565,339 shares of the oil and gas producer’s stock valued at $18,118,000 after purchasing an additional 533,754 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

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

Suncor Energy Stock Performance

NYSE:SU traded up $0.38 during trading on Monday, reaching $37.06. The company’s stock had a trading volume of 146,365 shares, compared to its average volume of 4,640,799. The firm has a market cap of $47.49 billion, a price-to-earnings ratio of 8.17, a price-to-earnings-growth ratio of 3.52 and a beta of 1.11. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 1.51. The firm has a 50 day moving average of $38.77 and a 200-day moving average of $35.52. Suncor Energy Inc. has a 12 month low of $28.26 and a 12 month high of $41.50.

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

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th will be paid a $0.395 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $1.58 dividend on an annualized basis and a yield of 4.26%. Suncor Energy’s dividend payout ratio (DPR) is currently 35.19%.

Suncor Energy 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.