Suncor Energy Inc. (NYSE:SU) Shares Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC increased its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 97.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,734,572 shares of the oil and gas producer’s stock after purchasing an additional 1,842,791 shares during the period. Fisher Asset Management LLC’s holdings in Suncor Energy were worth $133,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of SU. International Assets Investment Management LLC purchased a new position in Suncor Energy in the third quarter worth $2,701,000. First Trust Direct Indexing L.P. lifted its holdings in Suncor Energy by 32.1% in the third quarter. First Trust Direct Indexing L.P. now owns 11,609 shares of the oil and gas producer’s stock valued at $429,000 after acquiring an additional 2,819 shares during the period. Pinnacle Associates Ltd. lifted its holdings in Suncor Energy by 6.8% in the third quarter. Pinnacle Associates Ltd. now owns 47,519 shares of the oil and gas producer’s stock valued at $1,754,000 after acquiring an additional 3,026 shares during the period. VELA Investment Management LLC lifted its holdings in Suncor Energy by 25.9% in the third quarter. VELA Investment Management LLC now owns 64,629 shares of the oil and gas producer’s stock valued at $2,386,000 after acquiring an additional 13,301 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in Suncor Energy by 8.9% in the third quarter. Janney Montgomery Scott LLC now owns 64,084 shares of the oil and gas producer’s stock valued at $2,366,000 after acquiring an additional 5,247 shares during the period. 67.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on SU. Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 target price on shares of Suncor Energy in a report on Tuesday, January 7th. StockNews.com downgraded Suncor Energy from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Finally, Bank of America began coverage on Suncor Energy in a research note on Wednesday. They set a “neutral” rating for the company. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $58.00.

Suncor Energy Trading Up 0.2 %

Shares of SU stock opened at $38.28 on Friday. The firm has a 50-day moving average price of $38.28 and a 200 day moving average price of $38.62. Suncor Energy Inc. has a twelve month low of $33.79 and a twelve month high of $41.94. The company has a market capitalization of $47.64 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 2.94 and a beta of 1.12. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. Research analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be paid a $0.399 dividend. This represents a $1.60 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s payout ratio is 45.22%.

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.