Janney Montgomery Scott LLC Increases Stock Position in Suncor Energy Inc. (NYSE:SU)

Janney Montgomery Scott LLC increased its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 8.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,084 shares of the oil and gas producer’s stock after purchasing an additional 5,247 shares during the period. Janney Montgomery Scott LLC’s holdings in Suncor Energy were worth $2,366,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its stake in shares of Suncor Energy by 2,358.4% during the 1st 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. Atomi Financial Group Inc. boosted its stake in shares of Suncor Energy by 27.1% during the 1st quarter. Atomi Financial Group Inc. now owns 8,786 shares of the oil and gas producer’s stock worth $324,000 after acquiring an additional 1,871 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its position in shares of Suncor Energy by 5.4% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 7,695 shares of the oil and gas producer’s stock valued at $284,000 after acquiring an additional 395 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Suncor Energy in the 1st quarter worth $3,233,000. Finally, Vanguard Group Inc. raised its holdings in Suncor Energy by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 51,226,454 shares of the oil and gas producer’s stock worth $1,890,768,000 after purchasing an additional 691,497 shares during the period. Institutional investors own 67.37% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 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 target price for the company. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Suncor Energy currently has an average rating of “Moderate Buy” and an average target price of $56.40.

Suncor Energy Stock Performance

Shares of NYSE SU opened at $38.13 on Wednesday. The company has a market cap of $48.11 billion, a P/E ratio of 8.85, a P/E/G ratio of 2.78 and a beta of 1.12. Suncor Energy Inc. has a 52-week low of $29.45 and a 52-week high of $41.94. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46. The firm’s fifty day moving average is $38.30 and its two-hundred day moving average is $38.74.

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.