OMERS ADMINISTRATION Corp Makes New $78.35 Million Investment in Suncor Energy Inc. $SU

OMERS ADMINISTRATION Corp purchased a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the first quarter, Holdings Channel.com reports. The fund purchased 1,188,359 shares of the oil and gas producer’s stock, valued at approximately $78,350,000.

Several other hedge funds have also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership raised its position in shares of Suncor Energy by 121.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer’s stock valued at $1,724,954,000 after purchasing an additional 14,304,131 shares during the last quarter. AQR Capital Management LLC grew its position in Suncor Energy by 7,636.8% during the 4th quarter. AQR Capital Management LLC now owns 6,016,483 shares of the oil and gas producer’s stock worth $267,042,000 after purchasing an additional 5,938,719 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Suncor Energy by 238.9% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,758,650 shares of the oil and gas producer’s stock worth $512,987,000 after purchasing an additional 5,469,431 shares during the last quarter. FIL Ltd grew its position in Suncor Energy by 14.0% during the 4th quarter. FIL Ltd now owns 21,050,387 shares of the oil and gas producer’s stock worth $934,312,000 after purchasing an additional 2,592,516 shares during the last quarter. Finally, Alberta Investment Management Corp acquired a new position in Suncor Energy during the 4th quarter valued at approximately $93,960,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Trading Down 0.9%

Shares of Suncor Energy stock opened at $65.84 on Friday. The stock has a market cap of $77.74 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 0.49 and a beta of 0.30. The firm has a fifty day moving average price of $60.91 and a 200 day moving average price of $59.38. Suncor Energy Inc. has a 1 year low of $37.76 and a 1 year high of $70.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.04). The business had revenue of $10.41 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same period in the previous year, the company posted $1.31 earnings per share. Equities research analysts predict that Suncor Energy Inc. will post 7.11 earnings per share for the current year.

Suncor Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.6%. The ex-dividend date was Thursday, June 4th. Suncor Energy’s dividend payout ratio is currently 45.67%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a report on Friday, June 5th. Wall Street Zen raised shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 12th. Scotiabank raised Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Royal Bank Of Canada raised their target price on Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 1st. Finally, Zacks Research raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $71.67.

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.