Lingohr Asset Management GmbH Makes New Investment in Suncor Energy Inc. (NYSE:SU)

Lingohr Asset Management GmbH purchased a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 12,721 shares of the oil and gas producer’s stock, valued at approximately $449,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Toronto Dominion Bank boosted its stake in shares of Suncor Energy by 1.8% in the 3rd quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock valued at $684,726,000 after purchasing an additional 333,440 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Suncor Energy by 4.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,132,812 shares of the oil and gas producer’s stock valued at $361,227,000 after buying an additional 437,252 shares during the period. Principal Financial Group Inc. boosted its position in Suncor Energy by 39.9% during the fourth quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock valued at $346,298,000 after buying an additional 2,767,043 shares during the period. Geode Capital Management LLC boosted its position in Suncor Energy by 7.6% during the third quarter. Geode Capital Management LLC now owns 5,891,596 shares of the oil and gas producer’s stock valued at $220,955,000 after buying an additional 413,797 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Suncor Energy by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,457,325 shares of the oil and gas producer’s stock valued at $159,030,000 after buying an additional 99,669 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SU shares. Royal Bank of Canada restated an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a research report on Tuesday, January 7th. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. Cibc World Mkts upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Finally, Bank of America started coverage on shares of Suncor Energy in a report on Wednesday, February 26th. They set a “neutral” rating for the company. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Price Performance

SU stock opened at $37.48 on Thursday. Suncor Energy Inc. has a 1 year low of $33.81 and a 1 year high of $41.95. The company has a market cap of $46.37 billion, a P/E ratio of 10.86, a PEG ratio of 2.94 and a beta of 1.11. The firm has a 50-day moving average of $38.27 and a 200 day moving average of $38.17. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. On average, sell-side analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s payout ratio is currently 45.51%.

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.