Suncor Energy Inc. $SU Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership boosted its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 62.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,335,239 shares of the oil and gas producer’s stock after purchasing an additional 5,113,280 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.11% of Suncor Energy worth $557,682,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. increased its stake in shares of Suncor Energy by 64.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock valued at $29,000 after acquiring an additional 275 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Suncor Energy in the second quarter worth approximately $31,000. Hanson & Doremus Investment Management boosted its position in shares of Suncor Energy by 143.5% in the third quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 465 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Suncor Energy by 95.8% in the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 388 shares during the period. Finally, Corsicana & Co. acquired a new position in Suncor Energy during the third quarter worth approximately $42,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Stock Up 2.5%

NYSE SU opened at $59.76 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $60.09. The business has a 50 day moving average price of $53.00 and a two-hundred day moving average price of $45.90. The stock has a market cap of $71.10 billion, a PE ratio of 17.22 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.79 billion. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. During the same quarter last year, the firm posted $1.25 earnings per share. As a group, sell-side analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be issued a $0.60 dividend. The ex-dividend date is Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.0%. Suncor Energy’s payout ratio is currently 50.72%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SU. The Goldman Sachs Group lifted their price target on shares of Suncor Energy from $55.00 to $62.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. raised Suncor Energy from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $46.15 to $54.00 in a research report on Tuesday, January 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Suncor Energy in a report on Monday, December 29th. Zacks Research lowered Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Finally, Wall Street Zen downgraded Suncor Energy from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average price target of $63.67.

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.