Oxbow Advisors LLC Makes New $5.79 Million Investment in Suncor Energy Inc. $SU

Oxbow Advisors LLC purchased a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 107,762 shares of the oil and gas producer’s stock, valued at approximately $5,785,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its holdings in 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 buying an additional 14,304,131 shares during the last quarter. AQR Capital Management LLC increased its position in Suncor Energy by 7,636.8% in the 4th quarter. AQR Capital Management LLC now owns 6,016,483 shares of the oil and gas producer’s stock valued at $267,042,000 after acquiring an additional 5,938,719 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in Suncor Energy by 238.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,758,650 shares of the oil and gas producer’s stock valued at $512,987,000 after acquiring an additional 5,469,431 shares during the period. Deutsche Bank AG bought a new position in shares of Suncor Energy during the second quarter valued at $165,381,000. Finally, Alberta Investment Management Corp acquired a new position in shares of Suncor Energy during the second quarter worth $163,386,000. 67.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SU shares. Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Wall Street Zen lowered Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. The Goldman Sachs Group cut Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a research note on Friday, June 5th. Desjardins upgraded Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Finally, Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and an average price target of $71.67.

Suncor Energy Stock Performance

SU stock opened at $67.75 on Wednesday. The stock has a 50-day moving average price of $60.65 and a 200-day moving average price of $61.35. Suncor Energy Inc. has a 1-year low of $37.76 and a 1-year high of $70.29. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. The firm has a market cap of $79.99 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 0.49 and a beta of 0.29.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.19. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.The business had revenue of $13.41 billion during the quarter, compared to the consensus estimate of $11.68 billion. During the same period in the previous year, the company posted $0.71 earnings per share. As a group, equities research analysts expect that Suncor Energy Inc. will post 7.39 earnings per share for the current year.

Suncor Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a $0.60 dividend. The ex-dividend date is Friday, September 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.5%. Suncor Energy’s payout ratio is currently 32.04%.

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.