Headlands Technologies LLC Makes New Investment in Suncor Energy Inc. (NYSE:SU)

Headlands Technologies LLC bought a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,928 shares of the oil and gas producer’s stock, valued at approximately $302,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. SIR Capital Management L.P. bought a new position in shares of Suncor Energy in the second quarter worth about $12,046,000. United Services Automobile Association raised its stake in shares of Suncor Energy by 3.6% in the second quarter. United Services Automobile Association now owns 49,223 shares of the oil and gas producer’s stock worth $1,876,000 after buying an additional 1,724 shares during the period. Choreo LLC bought a new position in shares of Suncor Energy in the second quarter worth about $230,000. Ashton Thomas Private Wealth LLC raised its stake in shares of Suncor Energy by 7.7% in the second quarter. Ashton Thomas Private Wealth LLC now owns 52,076 shares of the oil and gas producer’s stock worth $1,984,000 after buying an additional 3,738 shares during the period. Finally, Fairbanks Capital Management Inc. raised its stake in shares of Suncor Energy by 2.9% in the second quarter. Fairbanks Capital Management Inc. now owns 154,084 shares of the oil and gas producer’s stock worth $5,871,000 after buying an additional 4,374 shares during the period. 67.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on SU shares. Scotiabank decreased their price objective 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. Wolfe Research assumed coverage on Suncor Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $68.00 target price on the stock. The Goldman Sachs Group lifted their target price on Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Finally, TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $54.86.

Suncor Energy Stock Up 0.4 %

Shares of SU opened at $36.43 on Friday. The stock has a market capitalization of $46.28 billion, a price-to-earnings ratio of 8.11, a price-to-earnings-growth ratio of 2.43 and a beta of 1.13. Suncor Energy Inc. has a 1 year low of $29.45 and a 1 year high of $41.94. The business’s 50 day simple moving average is $38.97 and its 200-day simple moving average is $38.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, topping 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 company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 EPS. As a group, equities analysts expect that Suncor Energy Inc. will post 3.71 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

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 issued a dividend of $0.395 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.58 annualized dividend and a dividend yield of 4.34%. Suncor Energy’s dividend payout ratio (DPR) is 36.08%.

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.