Suncor Energy Inc. (NYSE:SU) Position Increased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 21.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,823 shares of the oil and gas producer’s stock after buying an additional 8,467 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Suncor Energy were worth $1,860,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Trust Co. of Vermont bought a new stake in shares of Suncor Energy during the second quarter valued at approximately $26,000. Summit Securities Group LLC acquired a new stake in Suncor Energy in the 2nd quarter valued at approximately $27,000. Ridgewood Investments LLC bought a new stake in Suncor Energy during the 2nd quarter valued at $29,000. Johnson Financial Group Inc. acquired a new position in Suncor Energy during the 4th quarter worth $25,000. Finally, Richardson Financial Services Inc. bought a new position in shares of Suncor Energy in the fourth quarter worth $25,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Stock Down 0.7 %

NYSE SU opened at $36.98 on Thursday. Suncor Energy Inc. has a 12 month low of $29.45 and a 12 month high of $41.94. The company has a market capitalization of $47.39 billion, a P/E ratio of 8.24, a PEG ratio of 2.44 and a beta of 1.13. The company’s 50 day simple moving average is $38.93 and its 200 day simple moving average is $38.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93.

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

Suncor Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 4.27%. The ex-dividend date is Wednesday, September 4th. Suncor Energy’s dividend payout ratio is 35.86%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SU. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Wolfe Research assumed coverage on shares of Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price objective for the company. 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 report on Thursday, May 23rd. Finally, TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Two equities research 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 stock has an average rating of “Moderate Buy” and an average target price of $55.83.

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.