Norden Group LLC Invests $399,000 in Suncor Energy Inc. (NYSE:SU)

Norden Group LLC acquired a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the first quarter, Holdings Channel reports. The firm acquired 10,822 shares of the oil and gas producer’s stock, valued at approximately $399,000.

A number of other large investors have also added to or reduced their stakes in SU. Vanguard Personalized Indexing Management LLC lifted its position in shares of Suncor Energy by 10.7% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 29,873 shares of the oil and gas producer’s stock worth $957,000 after buying an additional 2,895 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Suncor Energy by 1.5% during the third quarter. Vanguard Group Inc. now owns 50,379,614 shares of the oil and gas producer’s stock valued at $1,732,051,000 after buying an additional 731,163 shares during the last quarter. Sanders Capital LLC grew its stake in shares of Suncor Energy by 2.8% during the fourth quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock valued at $1,836,470,000 after buying an additional 1,568,629 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Suncor Energy by 1,689.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 565,339 shares of the oil and gas producer’s stock valued at $18,118,000 after buying an additional 533,754 shares during the last quarter. Finally, Sapient Capital LLC bought a new position in shares of Suncor Energy during the fourth quarter valued at approximately $1,100,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Up 0.8 %

SU stock opened at $38.20 on Friday. The firm has a market cap of $48.95 billion, a PE ratio of 8.51, a PEG ratio of 3.59 and a beta of 1.12. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 1.51. The firm’s 50 day moving average price is $38.65 and its 200-day moving average price is $36.14. Suncor Energy Inc. has a one year low of $28.65 and a one year high of $41.50.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.15. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. The firm had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $8.64 billion. On average, equities research analysts anticipate that Suncor Energy Inc. will post 3.52 EPS for the current year.

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Tuesday, June 4th were given a $0.395 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $1.58 dividend on an annualized basis and a yield of 4.14%. Suncor Energy’s dividend payout ratio (DPR) is presently 35.63%.

Analyst Upgrades and Downgrades

SU has been the topic of several research analyst reports. The Goldman Sachs Group increased 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. Morgan Stanley increased their price objective on Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Raymond James upgraded Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. StockNews.com lowered Suncor Energy from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, TD Securities increased their price target on Suncor Energy from $52.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, May 22nd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Suncor Energy has a consensus rating of “Moderate Buy” and an average price target of $51.67.

Suncor Energy Company 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.