Maryland State Retirement & Pension System Acquires 28,172 Shares of Suncor Energy Inc. (NYSE:SU)

Maryland State Retirement & Pension System increased its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 15.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 206,762 shares of the oil and gas producer’s stock after buying an additional 28,172 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Suncor Energy were worth $7,756,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Johnson Financial Group Inc. bought a new stake in shares of Suncor Energy during the fourth quarter worth $25,000. Richardson Financial Services Inc. acquired a new position in Suncor Energy in the 4th quarter worth about $25,000. Benjamin F. Edwards & Company Inc. raised its position in Suncor Energy by 43.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 313 shares during the last quarter. Adirondack Trust Co. raised its position in Suncor Energy by 45.6% in the fourth quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 313 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Suncor Energy during the fourth quarter valued at about $38,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Trading Down 1.7 %

SU traded down $0.65 during trading on Friday, reaching $38.38. 336,672 shares of the stock traded hands, compared to its average volume of 4,614,287. The stock’s 50-day moving average is $38.73 and its 200 day moving average is $35.93. Suncor Energy Inc. has a 12 month low of $28.26 and a 12 month high of $41.50. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $49.18 billion, a PE ratio of 8.63, a P/E/G ratio of 3.70 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last released 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 analysts’ expectations of $8.64 billion. Equities analysts anticipate that Suncor Energy Inc. will post 3.52 earnings per share for the current year.

Suncor Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Tuesday, June 4th were given a dividend of $0.395 per share. The ex-dividend date was Tuesday, June 4th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.12%. Suncor Energy’s payout ratio is presently 35.19%.

Wall Street Analysts Forecast Growth

SU has been the subject of a number of research reports. The Goldman Sachs Group raised their price objective on shares of Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. TD Securities raised their price target on shares of Suncor Energy from $52.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, May 22nd. Raymond James raised shares of Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, June 24th. Finally, Morgan Stanley lifted their target price on Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.