Clear Harbor Asset Management LLC Takes $944,000 Position in Suncor Energy Inc. $SU

Clear Harbor Asset Management LLC purchased a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 22,590 shares of the oil and gas producer’s stock, valued at approximately $944,000.

Several other large investors also recently added to or reduced their stakes in SU. Cypress Capital LLC bought a new position in Suncor Energy in the 3rd quarter worth about $205,000. Benjamin Edwards Inc. grew its stake in Suncor Energy by 7.2% in the third quarter. Benjamin Edwards Inc. now owns 24,489 shares of the oil and gas producer’s stock worth $1,024,000 after purchasing an additional 1,643 shares in the last quarter. HB Wealth Management LLC purchased a new position in Suncor Energy during the 3rd quarter worth $679,000. Park Avenue Securities LLC raised its position in Suncor Energy by 2.4% during the 3rd quarter. Park Avenue Securities LLC now owns 37,150 shares of the oil and gas producer’s stock valued at $1,553,000 after purchasing an additional 855 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC bought a new stake in Suncor Energy during the 3rd quarter valued at $214,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Stock Up 2.1%

NYSE:SU opened at $46.74 on Friday. The company’s 50-day simple moving average is $43.86 and its 200-day simple moving average is $41.30. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.85 and a current ratio of 1.35. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $46.77. The stock has a market capitalization of $56.01 billion, a P/E ratio of 15.32 and a beta of 0.46.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $8.82 billion. During the same quarter in the prior year, the company posted $1.48 earnings per share. On average, equities analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 3rd were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend was Wednesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s payout ratio is 56.39%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SU shares. Raymond James Financial upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Suncor Energy in a research report on Monday, December 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $65.00 price target on shares of Suncor Energy in a research report on Friday, October 3rd. Zacks Research upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 22nd. Finally, The Goldman Sachs Group boosted their price objective on shares of Suncor Energy from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, January 2nd. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $56.50.

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.