Suncor Energy Inc. (NYSE:SU) Stock Position Lifted by SCP Investment LP

SCP Investment LP boosted its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 31.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,800 shares of the oil and gas producer’s stock after buying an additional 6,000 shares during the quarter. Suncor Energy makes up about 0.7% of SCP Investment LP’s holdings, making the stock its 20th biggest position. SCP Investment LP’s holdings in Suncor Energy were worth $885,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. HHM Wealth Advisors LLC grew its stake in shares of Suncor Energy by 62.1% in the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after buying an additional 325 shares in the last quarter. Crowley Wealth Management Inc. acquired a new position in shares of Suncor Energy during the 4th quarter worth $35,000. Lee Danner & Bass Inc. bought a new position in shares of Suncor Energy during the 4th quarter valued at $36,000. Golden State Wealth Management LLC acquired a new stake in shares of Suncor Energy in the 4th quarter valued at $39,000. Finally, Stonebridge Financial Group LLC acquired a new position in Suncor Energy during the fourth quarter worth $45,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

SU has been the subject of several recent analyst reports. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Scotiabank raised shares of Suncor Energy to a “hold” rating in a research report on Wednesday, March 19th. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $66.00 target price on shares of Suncor Energy in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.20.

Suncor Energy Stock Down 0.7 %

Shares of SU opened at $38.36 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The company has a 50-day simple moving average of $38.13 and a 200-day simple moving average of $38.17. Suncor Energy Inc. has a 52 week low of $33.81 and a 52 week high of $41.95. The firm has a market capitalization of $47.45 billion, a P/E ratio of 11.12, a P/E/G ratio of 2.94 and a beta of 1.11.

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

Suncor Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.399 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a yield of 4.16%. Suncor Energy’s dividend payout ratio is currently 45.51%.

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.