159,140 Shares in Suncor Energy Inc. $SU Bought by Barometer Capital Management Inc.

Barometer Capital Management Inc. purchased a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 159,140 shares of the oil and gas producer’s stock, valued at approximately $6,654,000. Suncor Energy accounts for 1.7% of Barometer Capital Management Inc.’s portfolio, making the stock its 21st largest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Archford Capital Strategies LLC raised its position in shares of Suncor Energy by 1.2% during the 3rd quarter. Archford Capital Strategies LLC now owns 23,617 shares of the oil and gas producer’s stock valued at $987,000 after acquiring an additional 272 shares in the last quarter. Richardson Financial Services Inc. lifted its stake in Suncor Energy by 64.1% during the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 275 shares during the last quarter. D Orazio & Associates Inc. boosted its holdings in Suncor Energy by 3.9% in the third quarter. D Orazio & Associates Inc. now owns 7,299 shares of the oil and gas producer’s stock worth $305,000 after purchasing an additional 275 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Suncor Energy by 10.5% in the third quarter. EverSource Wealth Advisors LLC now owns 2,947 shares of the oil and gas producer’s stock worth $123,000 after purchasing an additional 280 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in Suncor Energy by 0.7% during the third quarter. Advisors Asset Management Inc. now owns 43,083 shares of the oil and gas producer’s stock valued at $1,801,000 after purchasing an additional 301 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SU. Zacks Research downgraded shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Wall Street Zen cut Suncor Energy from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. The Goldman Sachs Group increased their price target on Suncor Energy from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. upgraded shares of Suncor Energy from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $46.15 to $54.00 in a research report on Tuesday, January 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Suncor Energy in a report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Suncor Energy presently has an average rating of “Moderate Buy” and a consensus price target of $61.00.

Suncor Energy Price Performance

Shares of Suncor Energy stock opened at $58.22 on Thursday. The company has a current ratio of 1.39, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. Suncor Energy Inc. has a 1-year low of $30.79 and a 1-year high of $58.63. The firm has a fifty day simple moving average of $52.69 and a 200-day simple moving average of $45.81. The stock has a market capitalization of $69.27 billion, a price-to-earnings ratio of 16.78 and a beta of 0.43.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, February 3rd. The oil and gas producer reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.The business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.79 billion. During the same period in the previous year, the company posted $1.25 earnings per share. On average, sell-side analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.1%. Suncor Energy’s payout ratio is currently 50.72%.

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.