Cullen Investment Group LTD. Purchases New Position in Suncor Energy Inc. (NYSE:SU)

Cullen Investment Group LTD. purchased a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 35,886 shares of the oil and gas producer’s stock, valued at approximately $1,150,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Arlington Trust Co LLC purchased a new position in shares of Suncor Energy during the third quarter worth approximately $29,000. Optiver Holding B.V. purchased a new position in shares of Suncor Energy during the third quarter worth approximately $29,000. Sunbelt Securities Inc. purchased a new position in shares of Suncor Energy during the first quarter worth approximately $31,000. Headinvest LLC purchased a new position in shares of Suncor Energy during the third quarter worth approximately $40,000. Finally, Private Trust Co. NA lifted its holdings in shares of Suncor Energy by 38.4% during the third quarter. Private Trust Co. NA now owns 1,222 shares of the oil and gas producer’s stock worth $42,000 after purchasing an additional 339 shares during the period. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Price Performance

Suncor Energy stock opened at $37.18 on Tuesday. Suncor Energy Inc. has a one year low of $27.59 and a one year high of $39.32. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 1.44. The business has a fifty day moving average of $35.28 and a two-hundred day moving average of $33.56. The company has a market cap of $47.86 billion, a P/E ratio of 7.91, a price-to-earnings-growth ratio of 3.46 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.13. Suncor Energy had a return on equity of 16.08% and a net margin of 16.33%. The company had revenue of $10.39 billion during the quarter, compared to the consensus estimate of $8.46 billion. During the same quarter last year, the company earned $1.33 earnings per share. As a group, analysts predict that Suncor Energy Inc. will post 3.63 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 4th were issued a $0.406 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.62 dividend on an annualized basis and a yield of 4.37%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.39. Suncor Energy’s dividend payout ratio (DPR) is 34.26%.

Analyst Ratings Changes

SU has been the subject of several recent research reports. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Friday. Morgan Stanley increased their price target on Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

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.