264,425 Shares in Suncor Energy Inc. (NYSE:SU) Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC purchased a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 264,425 shares of the oil and gas producer’s stock, valued at approximately $10,075,000.

Other large investors have also made changes to their positions in the company. First Horizon Advisors Inc. grew its stake in Suncor Energy by 6.1% during the second quarter. First Horizon Advisors Inc. now owns 4,879 shares of the oil and gas producer’s stock worth $186,000 after buying an additional 281 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in Suncor Energy by 43.2% in the 4th 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 in 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 period. Independence Bank of Kentucky lifted its stake in shares of Suncor Energy by 6.7% during the first quarter. Independence Bank of Kentucky now owns 5,050 shares of the oil and gas producer’s stock worth $186,000 after purchasing an additional 315 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Suncor Energy by 11.0% during the second quarter. Blue Trust Inc. now owns 3,278 shares of the oil and gas producer’s stock worth $121,000 after purchasing an additional 325 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Price Performance

Shares of SU opened at $36.09 on Wednesday. Suncor Energy Inc. has a 12 month low of $29.45 and a 12 month high of $41.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93. The stock has a fifty day moving average price of $39.11 and a 200 day moving average price of $38.24. The company has a market cap of $45.85 billion, a P/E ratio of 8.04, a PEG ratio of 2.51 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 EPS for the quarter, topping the consensus estimate of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The business had revenue of $12.90 billion during the quarter, compared to analyst estimates of $9.30 billion. During the same quarter in the prior year, the firm earned $0.71 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. On average, research analysts forecast that Suncor Energy Inc. will post 3.71 earnings per share for the current year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.395 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.38%. Suncor Energy’s dividend payout ratio (DPR) is 35.19%.

Analysts Set New Price Targets

SU has been the topic of several analyst reports. Scotiabank dropped their target price on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group boosted their target price 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. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Finally, BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average target price of $54.86.

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.