Chase Investment Counsel Corp Increases Stock Position in Suncor Energy Inc. (NYSE:SU)

Chase Investment Counsel Corp increased its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 7.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,666 shares of the oil and gas producer’s stock after buying an additional 852 shares during the period. Chase Investment Counsel Corp’s holdings in Suncor Energy were worth $482,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Toronto Dominion Bank lifted its holdings in Suncor Energy by 59.7% during the first quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock valued at $649,872,000 after purchasing an additional 6,580,260 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Suncor Energy by 90.9% during the second quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock valued at $316,226,000 after purchasing an additional 3,951,287 shares in the last quarter. National Bank of Canada FI lifted its holdings in Suncor Energy by 60.7% during the second quarter. National Bank of Canada FI now owns 8,661,861 shares of the oil and gas producer’s stock valued at $328,876,000 after purchasing an additional 3,272,896 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Suncor Energy by 305.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,725,000 shares of the oil and gas producer’s stock valued at $63,687,000 after purchasing an additional 1,300,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Suncor Energy by 5.1% during the second quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock valued at $956,850,000 after purchasing an additional 1,209,073 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on SU shares. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Scotiabank reduced their target price on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Wolfe Research assumed coverage on shares of Suncor Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 target price for the company. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Saturday. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.83.

Suncor Energy Price Performance

Suncor Energy stock opened at $36.80 on Monday. Suncor Energy Inc. has a 12-month low of $29.45 and a 12-month high of $41.94. The stock has a market cap of $46.75 billion, a P/E ratio of 8.20, a PEG ratio of 2.57 and a beta of 1.13. The company has a 50-day moving average price of $38.76 and a 200 day moving average price of $38.47. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (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 firm had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $9.30 billion. During the same period last year, the business earned $0.71 earnings per share. Suncor Energy’s revenue was up 10.1% compared to the same quarter last year. Sell-side analysts anticipate that Suncor Energy Inc. will post 3.71 earnings per share for the current year.

Suncor Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were given a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend was Wednesday, September 4th. Suncor Energy’s payout ratio is currently 36.08%.

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.