Panview Capital Ltd Buys Shares of 339,000 Suncor Energy Inc. (NYSE:SU)

Panview Capital Ltd bought a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 339,000 shares of the oil and gas producer’s stock, valued at approximately $12,096,000. Suncor Energy makes up about 2.6% of Panview Capital Ltd’s portfolio, making the stock its 10th largest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SU. Blue Trust Inc. increased its holdings in Suncor Energy by 56.2% during the third quarter. Blue Trust Inc. now owns 5,120 shares of the oil and gas producer’s stock valued at $195,000 after buying an additional 1,842 shares during the last quarter. Raymond James & Associates boosted its position in shares of Suncor Energy by 9.7% in the third quarter. Raymond James & Associates now owns 466,969 shares of the oil and gas producer’s stock worth $17,240,000 after purchasing an additional 41,206 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Suncor Energy by 286.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 299,604 shares of the oil and gas producer’s stock worth $11,061,000 after purchasing an additional 222,170 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Suncor Energy by 113.1% in the third quarter. Sequoia Financial Advisors LLC now owns 34,659 shares of the oil and gas producer’s stock worth $1,280,000 after purchasing an additional 18,398 shares during the period. Finally, Eastern Bank bought a new position in shares of Suncor Energy in the third quarter worth approximately $25,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Price Performance

Shares of NYSE:SU opened at $39.46 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The firm has a fifty day moving average price of $37.95 and a 200 day moving average price of $38.67. Suncor Energy Inc. has a fifty-two week low of $33.26 and a fifty-two week high of $41.94. The firm has a market cap of $49.11 billion, a price-to-earnings ratio of 11.44, a P/E/G ratio of 2.94 and a beta of 1.12.

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 analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. As a group, sell-side analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.60 annualized dividend and a yield of 4.04%. Suncor Energy’s dividend payout ratio (DPR) is currently 46.67%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SU. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Cibc World Mkts upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $66.00 price target on shares of Suncor Energy in a research report on Tuesday, January 7th. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Finally, Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Suncor Energy has a consensus rating of “Moderate Buy” and an average price target of $58.00.

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.