Rhumbline Advisers Grows Position in Suncor Energy Inc. (NYSE:SU)

Rhumbline Advisers lifted its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 92.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,805 shares of the oil and gas producer’s stock after purchasing an additional 2,784 shares during the quarter. Rhumbline Advisers’ holdings in Suncor Energy were worth $207,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. UMB Bank n.a. grew its holdings in shares of Suncor Energy by 27.5% during the 4th quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer’s stock worth $50,000 after purchasing an additional 300 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Suncor Energy by 0.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 112,925 shares of the oil and gas producer’s stock valued at $4,169,000 after acquiring an additional 321 shares during the period. HHM Wealth Advisors LLC boosted its holdings in Suncor Energy by 62.1% during the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after acquiring an additional 325 shares during the period. Wilmington Savings Fund Society FSB boosted its holdings in Suncor Energy by 11.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 3,142 shares of the oil and gas producer’s stock valued at $112,000 after acquiring an additional 333 shares during the period. Finally, Coldstream Capital Management Inc. boosted its holdings in Suncor Energy by 5.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 7,486 shares of the oil and gas producer’s stock valued at $276,000 after acquiring an additional 354 shares during the period. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $66.00 price objective on shares of Suncor Energy in a research note on Tuesday, January 7th. Finally, Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Price Performance

Shares of NYSE SU opened at $35.66 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. Suncor Energy Inc. has a fifty-two week low of $33.81 and a fifty-two week high of $41.95. The firm has a market capitalization of $44.11 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11. The stock’s 50-day simple moving average is $38.29 and its 200-day simple moving average is $38.37.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. As a group, equities research analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is 45.51%.

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.