Public Employees Retirement System of Ohio Has $55.80 Million Stock Position in Suncor Energy Inc. $SU

Public Employees Retirement System of Ohio grew its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 6.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 846,111 shares of the oil and gas producer’s stock after acquiring an additional 50,502 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Suncor Energy were worth $55,802,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Atlantic Edge Private Wealth Management LLC lifted its position in Suncor Energy by 54.9% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 225 shares during the period. Headlands Technologies LLC acquired a new position in shares of Suncor Energy in the 2nd quarter valued at $31,000. 1 North Wealth Services LLC bought a new position in shares of Suncor Energy during the 4th quarter worth about $32,000. Accent Capital Management LLC lifted its holdings in shares of Suncor Energy by 37.5% during the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 225 shares during the period. Finally, Maseco LLP bought a new position in shares of Suncor Energy during the 4th quarter worth about $39,000. 67.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SU has been the topic of a number of analyst reports. Desjardins raised shares of Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Zacks Research raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. Royal Bank Of Canada increased their target price on Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, April 1st. Finally, ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $71.67.

Suncor Energy Trading Up 2.5%

Shares of Suncor Energy stock opened at $66.35 on Friday. Suncor Energy Inc. has a 12-month low of $37.76 and a 12-month high of $70.29. The stock has a market capitalization of $78.34 billion, a P/E ratio of 17.41 and a beta of 0.30. The company has a 50-day simple moving average of $60.96 and a 200 day simple moving average of $59.33. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The firm had revenue of $10.41 billion during the quarter, compared to analyst estimates of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same quarter last year, the firm earned $1.31 earnings per share. Research analysts expect that Suncor Energy Inc. will post 6.9 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Thursday, June 4th. Suncor Energy’s payout ratio is presently 45.41%.

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.