Picton Mahoney Asset Management Boosts Holdings in Suncor Energy Inc. $SU

Picton Mahoney Asset Management increased its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 314.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 627,313 shares of the oil and gas producer’s stock after buying an additional 476,077 shares during the period. Picton Mahoney Asset Management owned about 0.05% of Suncor Energy worth $26,246,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in SU. Victory Capital Management Inc. grew its stake in shares of Suncor Energy by 2.1% in the third quarter. Victory Capital Management Inc. now owns 91,147 shares of the oil and gas producer’s stock worth $3,811,000 after acquiring an additional 1,843 shares in the last quarter. Sprott Inc. raised its stake in shares of Suncor Energy by 33.4% in the third quarter. Sprott Inc. now owns 18,779 shares of the oil and gas producer’s stock valued at $785,000 after acquiring an additional 4,700 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Suncor Energy by 85.5% in the third quarter. Fisher Asset Management LLC now owns 15,530,965 shares of the oil and gas producer’s stock valued at $649,350,000 after purchasing an additional 7,158,953 shares during the period. Aviso Financial Inc. boosted its holdings in Suncor Energy by 4.9% in the third quarter. Aviso Financial Inc. now owns 161,216 shares of the oil and gas producer’s stock valued at $6,748,000 after purchasing an additional 7,473 shares during the period. Finally, American Century Companies Inc. grew its stake in Suncor Energy by 2.1% during the 3rd quarter. American Century Companies Inc. now owns 896,556 shares of the oil and gas producer’s stock worth $37,519,000 after purchasing an additional 18,231 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Trading Down 1.1%

SU opened at $57.15 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.39. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $58.47. The company has a market cap of $68.01 billion, a P/E ratio of 16.47 and a beta of 0.43. The business’s 50-day simple moving average is $51.04 and its 200-day simple moving average is $45.07.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.02. The firm had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.79 billion. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.During the same quarter in the previous year, the business earned $1.25 earnings per share. As a group, equities research analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be issued a $0.60 dividend. The ex-dividend date is Wednesday, March 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.2%. Suncor Energy’s dividend payout ratio is presently 49.57%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Suncor Energy in a research report on Monday, December 29th. JPMorgan Chase & Co. raised Suncor Energy from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $46.15 to $54.00 in a research report on Tuesday, January 20th. The Goldman Sachs Group raised their target price on shares of Suncor Energy from $48.00 to $54.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Wall Street Zen downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. Finally, Royal Bank Of Canada boosted their price target on shares of Suncor Energy from $69.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy currently has an average rating of “Moderate Buy” and an average target price of $61.00.

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.