Frank Rimerman Advisors LLC Purchases Shares of 34,533 Suncor Energy Inc. (NYSE:SU)

Frank Rimerman Advisors LLC acquired a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 34,533 shares of the oil and gas producer’s stock, valued at approximately $1,316,000.

Other large investors have also modified their holdings of the company. Trust Co. of Vermont acquired a new stake in shares of Suncor Energy in the second quarter valued at about $26,000. Summit Securities Group LLC acquired a new stake in Suncor Energy in the 2nd quarter valued at approximately $27,000. Richardson Financial Services Inc. increased its position in Suncor Energy by 82.8% in the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 328 shares during the period. Ridgewood Investments LLC acquired a new position in shares of Suncor Energy during the second quarter worth approximately $29,000. Finally, Johnson Financial Group Inc. bought a new stake in shares of Suncor Energy in the fourth quarter valued at approximately $25,000. 67.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on SU. StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Friday. Raymond James raised Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Scotiabank reduced their price objective on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Finally, BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.83.

Suncor Energy Price Performance

Suncor Energy stock opened at $37.21 on Monday. Suncor Energy Inc. has a 52 week low of $29.45 and a 52 week high of $41.94. The firm has a market cap of $47.69 billion, a P/E ratio of 8.29, a P/E/G ratio of 2.47 and a beta of 1.13. 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 business’s fifty day moving average is $38.90 and its two-hundred day moving average is $38.38.

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 for the quarter, topping analysts’ consensus estimates of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The company had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $9.30 billion. During the same period in the previous year, the firm posted $0.71 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. Equities research analysts forecast that Suncor Energy Inc. will post 3.71 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be paid a $0.395 dividend. This represents a $1.58 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend is Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 35.86%.

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.