Cullen Frost Bankers Inc. Grows Stock Position in Suncor Energy Inc. (NYSE:SU)

Cullen Frost Bankers Inc. boosted its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 253.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,887 shares of the oil and gas producer’s stock after buying an additional 7,092 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Suncor Energy were worth $377,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in shares of Suncor Energy during the fourth quarter valued at approximately $400,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Suncor Energy by 43.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 313 shares during the period. Private Advisor Group LLC boosted its holdings in Suncor Energy by 2.5% during the 4th quarter. Private Advisor Group LLC now owns 33,119 shares of the oil and gas producer’s stock valued at $1,061,000 after acquiring an additional 823 shares during the period. Principal Securities Inc. bought a new position in Suncor Energy in the 4th quarter valued at $590,000. Finally, Dimensional Fund Advisors LP increased its stake in Suncor Energy by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,957,907 shares of the oil and gas producer’s stock worth $319,044,000 after purchasing an additional 188,676 shares during the period. Institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Scotiabank cut their price target on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Wolfe Research initiated coverage on shares of Suncor Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $68.00 target price on the stock. The Goldman Sachs Group raised their target price on shares of Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, Raymond James upgraded Suncor Energy to a “hold” rating in a report on Tuesday, May 28th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.86.

Suncor Energy Price Performance

NYSE SU opened at $37.40 on Tuesday. The company has a market cap of $47.52 billion, a PE ratio of 8.33, a P/E/G ratio of 2.51 and a beta of 1.13. 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’s 50 day moving average price is $39.17 and its 200-day moving average price is $38.22.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.51. The business had revenue of $12.90 billion for 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 EPS. Sell-side analysts forecast that Suncor Energy Inc. will post 3.71 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The company 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 $0.395 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.58 dividend on an annualized basis and a yield of 4.22%. Suncor Energy’s dividend payout ratio is presently 35.19%.

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.