Arrowstreet Capital Limited Partnership Has $1.72 Billion Position in Suncor Energy Inc. $SU

Arrowstreet Capital Limited Partnership raised its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 121.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,085,360 shares of the oil and gas producer’s stock after acquiring an additional 14,304,131 shares during the quarter. Suncor Energy comprises 0.9% of Arrowstreet Capital Limited Partnership’s portfolio, making the stock its 14th largest position. Arrowstreet Capital Limited Partnership owned approximately 2.21% of Suncor Energy worth $1,724,954,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC boosted its position in shares of Suncor Energy by 54.9% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 225 shares during the last quarter. 1 North Wealth Services LLC bought a new stake in Suncor Energy in the fourth quarter valued at about $32,000. Cassaday & Co Wealth Management LLC acquired a new position in Suncor Energy in the first quarter valued at about $53,000. Headlands Technologies LLC acquired a new position in Suncor Energy in the second quarter valued at about $31,000. Finally, Accent Capital Management LLC boosted its holdings in Suncor Energy by 37.5% during the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 225 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Trading Up 2.5%

NYSE SU opened at $66.35 on Friday. Suncor Energy Inc. has a 52 week low of $37.76 and a 52 week high of $70.29. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42. The stock’s 50 day moving average price is $60.96 and its two-hundred day moving average price is $59.33. The stock has a market capitalization of $78.34 billion, a price-to-earnings ratio of 17.41 and a beta of 0.30.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.04). Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.The business had revenue of $10.41 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the business earned $1.31 earnings per share. As a group, analysts anticipate that Suncor Energy Inc. will post 6.9 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.6%. The ex-dividend date was Thursday, June 4th. Suncor Energy’s payout ratio is presently 45.67%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Desjardins raised Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Weiss Ratings lowered shares of Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Wall Street Zen upgraded shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 12th. Finally, Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy presently has a consensus rating of “Buy” and a consensus target price of $71.67.

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.