Richardson Financial Services Inc. Purchases 328 Shares of Suncor Energy Inc. (NYSE:SU)

Richardson Financial Services Inc. lifted its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 82.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 724 shares of the oil and gas producer’s stock after buying an additional 328 shares during the period. Richardson Financial Services Inc.’s holdings in Suncor Energy were worth $28,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Trust Co. of Vermont bought a new stake in shares of Suncor Energy in the second quarter worth about $26,000. Summit Securities Group LLC bought a new stake in Suncor Energy during the 2nd quarter worth approximately $27,000. Ridgewood Investments LLC bought a new stake in Suncor Energy during the 2nd quarter worth approximately $29,000. Johnson Financial Group Inc. acquired a new stake in Suncor Energy during the 4th quarter worth approximately $25,000. Finally, Adirondack Trust Co. lifted its stake in Suncor Energy by 45.6% in the fourth quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 313 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Performance

SU opened at $37.70 on Friday. The business’s 50-day simple moving average is $38.92 and its 200 day simple moving average is $38.31. 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 has a market capitalization of $47.90 billion, a PE ratio of 8.40, a PEG ratio of 2.47 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 EPS for the quarter, beating the consensus estimate of $0.76 by $0.51. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The company had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $9.30 billion. During the same quarter in the prior year, the firm posted $0.71 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, sell-side analysts expect that Suncor Energy Inc. will post 3.71 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given 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 is Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 36.08%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Wolfe Research began coverage on Suncor Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $68.00 target price for the company. The Goldman Sachs Group boosted their price target on Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Finally, Scotiabank cut their target price on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.83.

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.