Point72 Asia Singapore Pte. Ltd. purchased a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 499,029 shares of the oil and gas producer’s stock, valued at approximately $15,345,000. Suncor Energy accounts for approximately 6.3% of Point72 Asia Singapore Pte. Ltd.’s investment portfolio, making the stock its 8th largest position.
Several other hedge funds also recently made changes to their positions in SU. Seven Eight Capital LP acquired a new stake in shares of Suncor Energy during the fourth quarter valued at $105,000. CENTRAL TRUST Co increased its stake in shares of Suncor Energy by 90.8% in the first quarter. CENTRAL TRUST Co now owns 3,641 shares of the oil and gas producer’s stock valued at $112,000 after buying an additional 1,733 shares during the last quarter. YorkBridge Wealth Partners LLC increased its stake in shares of Suncor Energy by 1.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 4,061 shares of the oil and gas producer’s stock valued at $128,000 after buying an additional 42 shares during the last quarter. Howe & Rusling Inc. increased its stake in shares of Suncor Energy by 19.3% in the first quarter. Howe & Rusling Inc. now owns 4,143 shares of the oil and gas producer’s stock valued at $127,000 after buying an additional 670 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. increased its stake in shares of Suncor Energy by 6.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,224 shares of the oil and gas producer’s stock valued at $130,000 after buying an additional 238 shares during the last quarter. 65.38% of the stock is currently owned by institutional investors and hedge funds.
Suncor Energy Inc. (SU) traded up 0.78% during mid-day trading on Friday, reaching $29.73. The company had a trading volume of 6,694,531 shares. Suncor Energy Inc. has a 12 month low of $25.70 and a 12 month high of $33.79. The stock has a market cap of $49.63 billion, a PE ratio of 43.02 and a beta of 0.82. The firm’s 50-day moving average price is $31.24 and its 200-day moving average price is $31.50.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 26th. Stockholders of record on Monday, June 5th will be issued a $0.2371 dividend. This represents a $0.95 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Thursday, June 1st. Suncor Energy ‘s payout ratio is 141.79%.
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Several brokerages have weighed in on SU. Scotiabank downgraded Suncor Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday, June 9th. Zacks Investment Research cut Suncor Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, April 12th. Goldman Sachs Group, Inc. (The) upgraded Suncor Energy from a “buy” rating to a “conviction-buy” rating and lifted their price target for the company from $25.00 to $34.00 in a research report on Wednesday, April 5th. They noted that the move was a valuation call. Simmons lowered their price target on Suncor Energy from $43.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 19th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $52.00 price target on shares of Suncor Energy in a research report on Saturday, March 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Suncor Energy currently has a consensus rating of “Buy” and a consensus price target of $42.49.
About Suncor Energy
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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