Corient Private Wealth LP Invests $15.70 Million in Suncor Energy Inc. $SU

Corient Private Wealth LP acquired a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 292,446 shares of the oil and gas producer’s stock, valued at approximately $15,698,000.

Several other large investors also recently made changes to their positions in SU. Arrowstreet Capital Limited Partnership increased its holdings in Suncor Energy by 121.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer’s stock worth $1,724,954,000 after buying an additional 14,304,131 shares during the last quarter. FIL Ltd raised its position in Suncor Energy by 14.0% during the fourth quarter. FIL Ltd now owns 21,050,387 shares of the oil and gas producer’s stock worth $934,312,000 after acquiring an additional 2,592,516 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Suncor Energy by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 19,371,704 shares of the oil and gas producer’s stock valued at $860,933,000 after acquiring an additional 516,783 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Suncor Energy by 8.3% in the fourth quarter. Fisher Asset Management LLC now owns 16,820,924 shares of the oil and gas producer’s stock valued at $746,176,000 after acquiring an additional 1,289,959 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Suncor Energy in the 2nd quarter valued at about $816,551,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently 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 target price on the stock. in a report on Friday, June 5th. Wall Street Zen cut Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Zacks Research cut Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Morgan Stanley set a $106.00 price target on Suncor Energy in a research report on Wednesday, August 19th. Finally, Desjardins upgraded Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $80.25.

Suncor Energy Trading Down 1.4%

SU stock opened at $65.50 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08. The company has a fifty day moving average price of $61.93 and a two-hundred day moving average price of $62.06. Suncor Energy Inc. has a one year low of $37.76 and a one year high of $70.29. The stock has a market cap of $77.34 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 0.47 and a beta of 0.30.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, beating the consensus estimate of $2.14 by $0.19. The firm had revenue of $13.41 billion for the quarter, compared to the consensus estimate of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same period in the previous year, the company earned $0.71 earnings per share. Equities analysts anticipate that Suncor Energy Inc. will post 7.39 EPS for the current year.

Suncor Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.7%. Suncor Energy’s payout ratio is presently 32.04%.

About Suncor Energy

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.