Suncor Energy Inc. (NYSE:SU) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 21.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,823 shares of the oil and gas producer’s stock after purchasing an additional 8,467 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Suncor Energy were worth $1,860,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Johnson Financial Group Inc. acquired a new stake in Suncor Energy in the 4th quarter valued at $25,000. Richardson Financial Services Inc. acquired a new position in Suncor Energy during the 4th quarter worth approximately $25,000. Trust Co. of Vermont purchased a new position in Suncor Energy in the 2nd quarter worth approximately $26,000. Summit Securities Group LLC acquired a new stake in Suncor Energy in the second quarter valued at approximately $27,000. Finally, Ridgewood Investments LLC purchased a new stake in shares of Suncor Energy during the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

SU has been the subject of several analyst reports. Raymond James upgraded shares of Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. Scotiabank decreased their price objective on shares of 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. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Wolfe Research assumed coverage on Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price target for the company. Finally, The Goldman Sachs Group lifted their price objective on Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.83.

Suncor Energy Stock Down 0.7 %

Shares of Suncor Energy stock opened at $36.98 on Thursday. The business has a 50-day moving average price of $38.93 and a 200 day moving average price of $38.32. Suncor Energy Inc. has a fifty-two week low of $29.45 and a fifty-two week high of $41.94. The firm has a market cap of $47.39 billion, a P/E ratio of 8.24, a P/E/G ratio of 2.44 and a beta of 1.13. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $9.30 billion. During the same period in the previous year, the business earned $0.71 EPS. The business’s quarterly revenue was up 10.1% on a year-over-year basis. On average, sell-side analysts forecast that Suncor Energy Inc. will post 3.71 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.395 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.27%. Suncor Energy’s dividend payout ratio (DPR) is 35.86%.

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.