Empirical Financial Services LLC d.b.a. Empirical Wealth Management Takes Position in Suncor Energy Inc. $SU

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 7,886 shares of the oil and gas producer’s stock, valued at approximately $350,000.

A number of other hedge funds have also modified their holdings of SU. Fisher Asset Management LLC raised its position in shares of Suncor Energy by 85.5% in the third quarter. Fisher Asset Management LLC now owns 15,530,965 shares of the oil and gas producer’s stock valued at $649,350,000 after buying an additional 7,158,953 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Suncor Energy by 62.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 13,335,239 shares of the oil and gas producer’s stock valued at $557,682,000 after buying an additional 5,113,280 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Suncor Energy by 29.5% in the second quarter. Canada Pension Plan Investment Board now owns 10,555,381 shares of the oil and gas producer’s stock valued at $395,649,000 after buying an additional 2,406,000 shares during the last quarter. Alyeska Investment Group L.P. increased its position in Suncor Energy by 334.8% during the third quarter. Alyeska Investment Group L.P. now owns 2,590,863 shares of the oil and gas producer’s stock worth $108,324,000 after purchasing an additional 1,995,007 shares during the last quarter. Finally, Bank of Nova Scotia increased its position in Suncor Energy by 63.5% during the third quarter. Bank of Nova Scotia now owns 5,028,399 shares of the oil and gas producer’s stock worth $210,474,000 after purchasing an additional 1,952,444 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Price Performance

Suncor Energy stock opened at $66.05 on Tuesday. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $67.76. The stock has a market cap of $78.39 billion, a P/E ratio of 19.03 and a beta of 0.32. The company has a 50-day moving average price of $58.43 and a 200 day moving average price of $48.68. 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 (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. The firm had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.79 billion. During the same period last year, the business earned $1.25 earnings per share. Sell-side analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Wednesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is 50.72%.

Wall Street Analyst Weigh In

SU has been the subject of several recent analyst reports. The Goldman Sachs Group raised their price objective on shares of Suncor Energy from $66.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, April 1st. Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a research report on Monday, December 29th. Zacks Research cut 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 shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. Finally, Royal Bank Of Canada raised their price objective on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

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.