Suncor Energy Inc. (NYSE:SU) Shares Bought by Arete Wealth Advisors LLC

Posted by AM Reporter Staff on Aug 6th, 2022

Arete Wealth Advisors LLC grew its position in shares of Suncor Energy Inc. (NYSE:SU – Get Rating) (TSE:SU) by 20.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 9,947 shares of the oil and gas producer’s stock after purchasing an additional 1,714 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Suncor Energy were worth $324,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. King Luther Capital Management Corp acquired a new position in shares of Suncor Energy in the 4th quarter worth $506,000. BNP Paribas Arbitrage SA grew its holdings in shares of Suncor Energy by 2,530.4% in the 4th quarter. BNP Paribas Arbitrage SA now owns 17,124 shares of the oil and gas producer’s stock worth $429,000 after acquiring an additional 16,473 shares during the last quarter. Brookstone Capital Management acquired a new stake in shares of Suncor Energy in the first quarter worth $1,386,000. Navellier & Associates Inc. acquired a new stake in shares of Suncor Energy in the first quarter worth $1,164,000. Finally, UMB Bank N A MO acquired a new stake in shares of Suncor Energy in the fourth quarter worth $131,000. 58.48% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Price Performance

NYSE SU opened at $30.28 on Friday. Suncor Energy Inc. has a fifty-two week low of $17.10 and a fifty-two week high of $42.72. The stock’s 50-day moving average is $35.05 and its two-hundred day moving average is $33.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.18 and a quick ratio of 0.75. The firm has a market cap of $41.79 billion, a P/E ratio of 8.85, a price-to-earnings-growth ratio of 0.50 and a beta of 1.26.

Suncor Energy (NYSE:SU – Get Rating) (TSE:SU) last posted its earnings results on Monday, May 9th. The oil and gas producer reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.21. Suncor Energy had a return on equity of 15.69% and a net margin of 14.18%. The company had revenue of $10.65 billion for the quarter, compared to analyst estimates of $9.18 billion. On average, analysts anticipate that Suncor Energy Inc. will post 6.25 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Friday, June 3rd were issued a dividend of $0.3623 per share. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.33. This represents a $1.45 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend was Thursday, June 2nd. Suncor Energy’s dividend payout ratio (DPR) is 43.57%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SU shares. Raymond James cut Suncor Energy from an “outperform” rating to a “market perform” rating in a research report on Monday, July 11th. The Goldman Sachs Group raised their target price on Suncor Energy from $38.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, May 20th. Scotiabank raised their target price on Suncor Energy from C$46.00 to C$57.00 in a research report on Wednesday, June 8th. National Bank Financial decreased their target price on Suncor Energy from C$73.00 to C$64.00 in a research report on Monday, July 18th. Finally, Royal Bank of Canada raised Suncor Energy from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, June 21st. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.38.

Suncor Energy Profile

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Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.