Suncor Energy Inc. (NYSE:SU) Shares Bought by Royal Fund Management LLC

Royal Fund Management LLC raised its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 54.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,732 shares of the oil and gas producer’s stock after acquiring an additional 7,300 shares during the period. Royal Fund Management LLC’s holdings in Suncor Energy were worth $765,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. HighTower Advisors LLC grew its stake in shares of Suncor Energy by 39.9% in the 3rd quarter. HighTower Advisors LLC now owns 45,997 shares of the oil and gas producer’s stock valued at $1,581,000 after buying an additional 13,126 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Suncor Energy in the 3rd quarter valued at approximately $1,196,000. Envestnet Asset Management Inc. grew its stake in shares of Suncor Energy by 65.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 871,508 shares of the oil and gas producer’s stock valued at $29,962,000 after buying an additional 345,757 shares during the period. LPL Financial LLC grew its stake in shares of Suncor Energy by 4.2% in the 3rd quarter. LPL Financial LLC now owns 255,785 shares of the oil and gas producer’s stock valued at $8,794,000 after buying an additional 10,251 shares during the period. Finally, Mariner LLC grew its stake in shares of Suncor Energy by 20.9% in the 3rd quarter. Mariner LLC now owns 45,940 shares of the oil and gas producer’s stock valued at $1,579,000 after buying an additional 7,950 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SU shares. StockNews.com cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. The Goldman Sachs Group increased their price objective 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. Raymond James raised shares of Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. Morgan Stanley increased their price objective on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, TD Securities increased their target price on shares of Suncor Energy from $52.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, May 22nd. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.67.

Suncor Energy Stock Performance

Suncor Energy stock traded up $0.38 during midday trading on Monday, hitting $37.06. 146,365 shares of the company’s stock were exchanged, compared to its average volume of 4,640,799. Suncor Energy Inc. has a 12-month low of $28.26 and a 12-month high of $41.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 1.51. The stock has a market cap of $47.49 billion, a price-to-earnings ratio of 8.17, a price-to-earnings-growth ratio of 3.52 and a beta of 1.11. The firm’s 50 day simple moving average is $38.77 and its 200 day simple moving average is $35.52.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.15. The company had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $8.64 billion. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. Equities research analysts predict that Suncor Energy Inc. will post 3.52 EPS for the current year.

Suncor Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th will be issued a $0.395 dividend. This represents a $1.58 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend is Tuesday, June 4th. Suncor Energy’s payout ratio is 35.19%.

About Suncor Energy

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.