Assetmark Inc. Has $1.90 Million Holdings in Suncor Energy Inc. $SU

Assetmark Inc. increased its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 55.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,681 shares of the oil and gas producer’s stock after buying an additional 10,219 shares during the quarter. Assetmark Inc.’s holdings in Suncor Energy were worth $1,896,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Barings LLC lifted its holdings in shares of Suncor Energy by 231.3% in the first quarter. Barings LLC now owns 288,783 shares of the oil and gas producer’s stock worth $19,104,000 after acquiring an additional 201,608 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Suncor Energy by 0.7% during the first quarter. Bessemer Group Inc. now owns 64,709 shares of the oil and gas producer’s stock worth $4,266,000 after buying an additional 440 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Suncor Energy by 8.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 775,769 shares of the oil and gas producer’s stock worth $50,378,000 after buying an additional 60,506 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Suncor Energy by 6.1% in the 1st quarter. Bank of New York Mellon Corp now owns 3,001,716 shares of the oil and gas producer’s stock valued at $198,443,000 after acquiring an additional 173,737 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC boosted its holdings in shares of Suncor Energy by 153.0% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,840,155 shares of the oil and gas producer’s stock valued at $121,668,000 after acquiring an additional 1,112,774 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on SU. Wall Street Zen raised Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 12th. Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. 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. Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Finally, The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a research note on Friday, June 5th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $71.67.

Suncor Energy Trading Up 2.5%

NYSE SU opened at $66.35 on Friday. The stock has a market capitalization of $78.34 billion, a P/E ratio of 17.41 and a beta of 0.30. The business has a 50 day simple moving average of $60.96 and a 200 day simple moving average of $59.33. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. Suncor Energy Inc. has a one year low of $37.76 and a one year high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data 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). The company had revenue of $10.41 billion during the quarter, compared to the consensus estimate of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same quarter in the prior year, the firm earned $1.31 EPS. Research analysts expect that Suncor Energy Inc. will post 6.9 earnings per share for the current year.

Suncor Energy Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is 45.67%.

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.