SIR Capital Management L.P. Takes Position in Suncor Energy Inc. (NYSE:SU)

SIR Capital Management L.P. purchased a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 316,113 shares of the oil and gas producer’s stock, valued at approximately $12,046,000.

Other institutional investors have also recently made changes to their positions in the company. Johnson Financial Group Inc. bought a new stake in shares of Suncor Energy in the 4th quarter worth $25,000. Richardson Financial Services Inc. purchased a new position in shares of Suncor Energy in the 4th quarter worth about $25,000. Trust Co. of Vermont purchased a new position in shares of Suncor Energy in the 2nd quarter worth about $26,000. Summit Securities Group LLC purchased a new stake in Suncor Energy during the second quarter valued at about $27,000. Finally, Ridgewood Investments LLC purchased a new stake in Suncor Energy during the second quarter valued at about $29,000. Institutional investors own 67.37% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wolfe Research assumed coverage on shares of Suncor Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price objective on the stock. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. The Goldman Sachs Group upped their price objective on shares of Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Raymond James upgraded shares of Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. Finally, StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $54.86.

Suncor Energy Price Performance

Shares of NYSE:SU opened at $37.40 on Tuesday. Suncor Energy Inc. has a 1-year low of $29.45 and a 1-year high of $41.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93. The business has a fifty day moving average price of $39.17 and a 200-day moving average price of $38.22. The company has a market capitalization of $47.52 billion, a PE ratio of 8.33, a PEG ratio of 2.51 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 EPS for the quarter, topping the consensus estimate of $0.76 by $0.51. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The company had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $9.30 billion. During the same period last year, the company earned $0.71 EPS. Suncor Energy’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities analysts expect that Suncor Energy Inc. will post 3.71 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.395 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.22%. Suncor Energy’s dividend payout ratio is currently 35.19%.

Suncor Energy Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.