Keystone Wealth Services LLC Purchases New Position in Suncor Energy Inc. (NYSE:SU)

Keystone Wealth Services LLC purchased a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,418 shares of the oil and gas producer’s stock, valued at approximately $245,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hexagon Capital Partners LLC lifted its holdings in Suncor Energy by 39.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 2,342 shares of the oil and gas producer’s stock worth $89,000 after purchasing an additional 664 shares during the last quarter. CHICAGO TRUST Co NA bought a new stake in shares of Suncor Energy during the 2nd quarter worth $355,000. Manning & Napier Advisors LLC acquired a new position in Suncor Energy in the 2nd quarter valued at $4,032,000. CWM LLC raised its holdings in Suncor Energy by 15.7% in the 2nd quarter. CWM LLC now owns 4,418 shares of the oil and gas producer’s stock worth $168,000 after acquiring an additional 598 shares during the period. Finally, Park Avenue Securities LLC lifted its position in Suncor Energy by 55.3% during the 2nd quarter. Park Avenue Securities LLC now owns 30,761 shares of the oil and gas producer’s stock worth $1,172,000 after acquiring an additional 10,949 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Down 0.3 %

Shares of Suncor Energy stock traded down $0.12 during trading on Friday, reaching $39.67. 4,024,951 shares of the company were exchanged, compared to its average volume of 4,484,905. The business has a 50-day moving average price of $38.06 and a 200-day moving average price of $37.05. The firm has a market capitalization of $50.84 billion, a price-to-earnings ratio of 8.84, a P/E/G ratio of 3.37 and a beta of 1.12. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. Suncor Energy Inc. has a twelve month low of $29.45 and a twelve month high of $41.50.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 EPS for the quarter, beating the consensus estimate of $0.76 by $0.51. The firm had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $9.30 billion. Suncor Energy had a net margin of 14.40% and a return on equity of 16.28%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Sell-side analysts anticipate that Suncor Energy Inc. will post 3.67 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be issued a $0.395 dividend. This represents a $1.58 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 34.97%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday. Scotiabank dropped their price objective 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. The Goldman Sachs Group lifted their price objective on Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday. Finally, Raymond James raised 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 eight have given a buy rating to the stock. According to MarketBeat, Suncor Energy has an average rating of “Moderate Buy” and an average price target of $54.75.

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.