Riverview Trust Co Makes New $94,000 Investment in Suncor Energy Inc. (NYSE:SU)

Riverview Trust Co purchased a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the first quarter, according to its most recent filing with the SEC. The firm purchased 2,539 shares of the oil and gas producer’s stock, valued at approximately $94,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Johnson Financial Group Inc. acquired a new position in Suncor Energy during the fourth quarter worth about $25,000. Richardson Financial Services Inc. purchased a new stake in Suncor Energy in the 4th quarter valued at approximately $25,000. Benjamin F. Edwards & Company Inc. grew its holdings in Suncor Energy by 43.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 313 shares during the last quarter. Adirondack Trust Co. increased its position in Suncor Energy by 45.6% during the fourth quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 313 shares in the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in shares of Suncor Energy in the fourth quarter worth $38,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Price Performance

Shares of Suncor Energy stock opened at $37.73 on Wednesday. The stock has a market capitalization of $48.35 billion, a P/E ratio of 8.40, a PEG ratio of 3.59 and a beta of 1.11. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25. The business’s fifty day moving average price is $38.79 and its 200 day moving average price is $35.62. Suncor Energy Inc. has a twelve month low of $28.26 and a twelve month high of $41.50.

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

Suncor Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th were paid a $0.395 dividend. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend was Tuesday, June 4th. Suncor Energy’s dividend payout ratio is presently 35.19%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. The Goldman Sachs Group increased their price objective on Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday. Morgan Stanley upped their price objective on shares of Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. TD Securities lifted their target price on shares of Suncor Energy from $52.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, May 22nd. Finally, Raymond James upgraded Suncor Energy to a “hold” rating in a report on Tuesday, May 28th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.67.

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.