Cwm LLC Raises Holdings in Suncor Energy Inc. (NYSE:SU)

Cwm LLC increased its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 20.2% in the third quarter, HoldingsChannel.com reports. The fund owned 5,312 shares of the oil and gas producer’s stock after buying an additional 894 shares during the period. Cwm LLC’s holdings in Suncor Energy were worth $196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its position in shares of Suncor Energy by 2,358.4% in the first quarter. BNP Paribas Financial Markets now owns 17,209 shares of the oil and gas producer’s stock valued at $635,000 after purchasing an additional 16,509 shares during the period. Empowered Funds LLC purchased a new stake in shares of Suncor Energy during the first quarter worth $2,940,000. Assenagon Asset Management S.A. increased its position in shares of Suncor Energy by 90.9% in the 2nd 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 during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Suncor Energy by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,529,253 shares of the oil and gas producer’s stock worth $683,916,000 after purchasing an additional 1,031,542 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Suncor Energy by 56.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 55,636 shares of the oil and gas producer’s stock valued at $2,054,000 after acquiring an additional 20,101 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of SU opened at $38.60 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46. Suncor Energy Inc. has a one year low of $29.45 and a one year high of $41.94. The firm has a market capitalization of $48.70 billion, a price-to-earnings ratio of 8.96, a price-to-earnings-growth ratio of 2.63 and a beta of 1.12. The stock’s fifty day moving average is $38.91 and its 200-day moving average is $38.74.

Suncor Energy (NYSE:SU) (TSE:SU) last announced 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. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The business had revenue of $12.90 billion during the quarter, compared to analyst estimates of $9.30 billion. During the same period in the previous year, the company earned $0.71 EPS. The firm’s revenue was up 10.1% on a year-over-year basis. Equities analysts anticipate that Suncor Energy Inc. will post 3.71 EPS for the current year.

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were given a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Wednesday, September 4th. Suncor Energy’s dividend payout ratio is presently 37.59%.

Wall Street Analyst Weigh In

SU has been the subject of a number of analyst reports. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Scotiabank cut their price objective on 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 initiated coverage on Suncor Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $68.00 target price on the stock. Finally, StockNews.com cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.83.

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.