Concentric Capital Strategies LP Buys New Shares in Suncor Energy Inc. (NYSE:SU)

Concentric Capital Strategies LP acquired a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 151,407 shares of the oil and gas producer’s stock, valued at approximately $5,590,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Eastern Bank purchased a new stake in Suncor Energy during the third quarter worth $25,000. Trust Co. of Vermont purchased a new position in shares of Suncor Energy in the 2nd quarter valued at about $26,000. Summit Securities Group LLC acquired a new position in Suncor Energy in the 2nd quarter worth about $27,000. Richardson Financial Services Inc. grew its holdings in Suncor Energy by 82.8% in the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 328 shares during the period. Finally, Ridgewood Investments LLC purchased a new stake in shares of Suncor Energy in the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Price Performance

SU stock opened at $39.48 on Monday. 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 0.24, a current ratio of 1.59 and a quick ratio of 1.04. The firm has a market capitalization of $49.67 billion, a PE ratio of 8.60, a price-to-earnings-growth ratio of 2.61 and a beta of 1.12. The business has a 50 day simple moving average of $39.12 and a 200-day simple moving average of $38.86.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be paid a $0.4089 dividend. The ex-dividend date is Tuesday, December 3rd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.14%. Suncor Energy’s dividend payout ratio (DPR) is 35.29%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented 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. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.40.

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.