Independence Bank of Kentucky Has $186,000 Stake in Suncor Energy Inc. (NYSE:SU)

Independence Bank of Kentucky increased its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 6.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,050 shares of the oil and gas producer’s stock after buying an additional 315 shares during the period. Independence Bank of Kentucky’s holdings in Suncor Energy were worth $186,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SU. TD Asset Management Inc lifted its stake in Suncor Energy by 16.8% in the 4th quarter. TD Asset Management Inc now owns 32,070,496 shares of the oil and gas producer’s stock valued at $1,032,453,000 after purchasing an additional 4,612,764 shares during the last quarter. AGF Management Ltd. grew its position in Suncor Energy by 454.9% during the 4th quarter. AGF Management Ltd. now owns 3,586,421 shares of the oil and gas producer’s stock worth $114,909,000 after acquiring an additional 2,940,103 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Suncor Energy by 8.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 22,384,816 shares of the oil and gas producer’s stock valued at $717,210,000 after purchasing an additional 1,725,969 shares during the last quarter. Sanders Capital LLC boosted its stake in shares of Suncor Energy by 2.8% during the fourth quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock valued at $1,836,470,000 after purchasing an additional 1,568,629 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Suncor Energy by 46.5% during the fourth quarter. Principal Financial Group Inc. now owns 4,300,392 shares of the oil and gas producer’s stock worth $138,444,000 after purchasing an additional 1,365,044 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SU has been the topic of a number of research reports. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, June 24th. Morgan Stanley boosted their target price on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Raymond James raised shares of Suncor Energy to a “hold” rating in a report on Tuesday, May 28th. TD Securities boosted their target price on shares of Suncor Energy from $52.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, May 22nd. Finally, The Goldman Sachs Group upped their price objective on shares of Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Suncor Energy has an average rating of “Moderate Buy” and an average price target of $51.67.

Suncor Energy Stock Up 0.2 %

Shares of SU stock traded up $0.09 on Friday, hitting $38.10. The stock had a trading volume of 3,880,495 shares, compared to its average volume of 6,229,595. The business has a 50 day moving average of $38.76 and a 200 day moving average of $35.70. The stock has a market cap of $48.83 billion, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of 3.60 and a beta of 1.11. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 0.97. Suncor Energy Inc. has a 12-month low of $28.26 and a 12-month high of $41.50.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.15. The company had revenue of $9.29 billion during the quarter, compared to analyst estimates of $8.64 billion. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. As a group, analysts expect that Suncor Energy Inc. will post 3.52 EPS for the current year.

Suncor Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.395 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.58 dividend on an annualized basis and a yield of 4.15%. Suncor Energy’s dividend payout ratio is presently 35.19%.

Suncor Energy Company 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.