Suncor Energy Inc. $SU is Cardinal Capital Management Inc.’s 2nd Largest Position

Cardinal Capital Management Inc. boosted its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,641,023 shares of the oil and gas producer’s stock after acquiring an additional 18,686 shares during the period. Suncor Energy accounts for about 4.4% of Cardinal Capital Management Inc.’s holdings, making the stock its 2nd biggest position. Cardinal Capital Management Inc. owned 0.30% of Suncor Energy worth $152,466,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SU. Cresset Asset Management LLC increased its stake in Suncor Energy by 5.4% in the first quarter. Cresset Asset Management LLC now owns 11,046 shares of the oil and gas producer’s stock valued at $428,000 after acquiring an additional 568 shares during the last quarter. Northwest & Ethical Investments L.P. increased its position in shares of Suncor Energy by 12.9% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 244,579 shares of the oil and gas producer’s stock valued at $9,476,000 after purchasing an additional 27,866 shares during the last quarter. Corient IA LLC bought a new position in shares of Suncor Energy during the 1st quarter valued at about $387,000. Prospector Partners LLC raised its holdings in shares of Suncor Energy by 4.6% during the 1st quarter. Prospector Partners LLC now owns 206,825 shares of the oil and gas producer’s stock valued at $8,008,000 after buying an additional 9,100 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Suncor Energy by 12.9% in the 1st quarter. Northern Trust Corp now owns 1,488,377 shares of the oil and gas producer’s stock worth $57,630,000 after buying an additional 170,505 shares during the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SU. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $65.00 price objective on shares of Suncor Energy in a research note on Friday, October 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a research report on Monday, December 8th. Wells Fargo & Company assumed coverage on Suncor Energy in a research note on Friday, October 17th. They set an “equal weight” rating on the stock. Zacks Research lowered Suncor Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Finally, Raymond James Financial upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $65.00.

Suncor Energy Stock Down 1.7%

Shares of NYSE:SU opened at $43.62 on Tuesday. The firm has a market capitalization of $52.42 billion, a P/E ratio of 14.30 and a beta of 0.46. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.85 and a current ratio of 1.35. The stock has a 50 day moving average price of $42.18 and a 200-day moving average price of $40.59. Suncor Energy Inc. has a 52-week low of $30.79 and a 52-week high of $45.60.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.22. Suncor Energy had a net margin of 10.61% and a return on equity of 13.01%. The company had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.82 billion. During the same period last year, the business earned $1.48 EPS. As a group, equities research analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 3rd will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.5%. Suncor Energy’s dividend payout ratio is currently 56.39%.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.