SIR Capital Management L.P. Takes $12.05 Million Position in Suncor Energy Inc. (NYSE:SU)

SIR Capital Management L.P. purchased a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 316,113 shares of the oil and gas producer’s stock, valued at approximately $12,046,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC lifted its holdings in Suncor Energy by 10.7% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 29,873 shares of the oil and gas producer’s stock worth $957,000 after purchasing an additional 2,895 shares in the last quarter. Sanders Capital LLC increased its stake in Suncor Energy by 2.8% in the 4th quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock worth $1,836,470,000 after acquiring an additional 1,568,629 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Suncor Energy by 2,358.4% in the 1st quarter. BNP Paribas Financial Markets now owns 17,209 shares of the oil and gas producer’s stock worth $635,000 after acquiring an additional 16,509 shares during the last quarter. Empowered Funds LLC bought a new stake in Suncor Energy in the 1st quarter worth approximately $2,940,000. Finally, Artisan Partners Limited Partnership increased its stake in Suncor Energy by 0.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 20,530,994 shares of the oil and gas producer’s stock worth $657,772,000 after acquiring an additional 182,289 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Price Performance

Shares of SU stock opened at $37.40 on Tuesday. Suncor Energy Inc. has a twelve month low of $29.45 and a twelve month high of $41.94. The stock has a market capitalization of $47.52 billion, a price-to-earnings ratio of 8.33, a P/E/G ratio of 2.51 and a beta of 1.13. The stock has a fifty day simple moving average of $39.17 and a two-hundred day simple moving average of $38.22. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.51. The business had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $9.30 billion. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 EPS. On average, analysts predict that Suncor Energy Inc. will post 3.71 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend is Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 35.19%.

Analyst Ratings Changes

SU has been the topic of a number of research reports. 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 research note on Thursday, May 23rd. Wolfe Research started coverage on Suncor Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $68.00 target price on the stock. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. 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 report on Friday, July 12th. Finally, TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $54.86.

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.