Sei Investments Co. Increases Position in Suncor Energy Inc. (NYSE:SU)

Sei Investments Co. lifted its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 57.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 248,867 shares of the oil and gas producer’s stock after purchasing an additional 91,163 shares during the period. Sei Investments Co.’s holdings in Suncor Energy were worth $9,482,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. King Luther Capital Management Corp purchased a new stake in Suncor Energy during the 2nd quarter worth about $1,377,000. MQS Management LLC acquired a new position in Suncor Energy in the second quarter valued at approximately $618,000. Richardson Financial Services Inc. increased its stake in Suncor Energy by 82.8% in the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 328 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Suncor Energy by 15.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 43,191 shares of the oil and gas producer’s stock valued at $1,640,000 after purchasing an additional 5,856 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Suncor Energy by 1.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 23,048,048 shares of the oil and gas producer’s stock worth $878,131,000 after purchasing an additional 366,432 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Up 0.8 %

Suncor Energy stock opened at $36.80 on Friday. The stock has a market capitalization of $46.75 billion, a price-to-earnings ratio of 8.20, a PEG ratio of 2.57 and a beta of 1.13. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. The stock has a 50 day moving average of $38.76 and a two-hundred day moving average of $38.45. Suncor Energy Inc. has a twelve month low of $29.45 and a twelve month high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data 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. 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 for the quarter, compared to analysts’ expectations of $9.30 billion. During the same period in the previous year, the company posted $0.71 EPS. Suncor Energy’s revenue was up 10.1% compared to the same quarter last year. As a group, research analysts expect that Suncor Energy Inc. will post 3.71 earnings per share for the current year.

Suncor Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were given a $0.395 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $1.58 dividend on an annualized basis and a yield of 4.29%. Suncor Energy’s payout ratio is currently 36.08%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Scotiabank lowered their target price on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Saturday. Wolfe Research began coverage on Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 target price for the company. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Finally, TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and a consensus target price of $55.83.

Suncor Energy 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.