Citigroup Inc. Raises Stock Position in Suncor Energy Inc. (NYSE:SU)

Citigroup Inc. raised its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 51.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 229,983 shares of the oil and gas producer’s stock after purchasing an additional 78,482 shares during the period. Citigroup Inc.’s holdings in Suncor Energy were worth $8,498,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SU. The Manufacturers Life Insurance Company lifted its stake in Suncor Energy by 5.1% in the 2nd 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 buying an additional 1,209,073 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Suncor Energy by 1.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 23,048,048 shares of the oil and gas producer’s stock worth $878,131,000 after buying an additional 366,432 shares in the last quarter. Toronto Dominion Bank boosted its position in Suncor Energy by 3.4% during the second quarter. Toronto Dominion Bank now owns 18,212,767 shares of the oil and gas producer’s stock worth $693,906,000 after acquiring an additional 605,833 shares during the last quarter. CIBC Asset Management Inc grew its stake in Suncor Energy by 1.3% during the 3rd quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock valued at $516,728,000 after acquiring an additional 180,533 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Suncor Energy by 23.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock valued at $357,827,000 after acquiring an additional 1,829,936 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SU shares. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.40.

Suncor Energy Stock Performance

NYSE SU opened at $39.50 on Friday. The stock has a fifty day simple moving average of $39.12 and a 200-day simple moving average of $38.86. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. The stock has a market cap of $49.69 billion, a PE ratio of 8.60, a P/E/G ratio of 2.61 and a beta of 1.12. Suncor Energy Inc. has a twelve month low of $29.45 and a twelve month high of $41.94.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.4089 per share. This represents a $1.64 annualized dividend and a yield of 4.14%. The ex-dividend date is Tuesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio (DPR) is 35.29%.

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.