Corient Private Wealth LLC Buys 282,579 Shares of Suncor Energy Inc. (NYSE:SU)

Corient Private Wealth LLC lifted its stake in shares of Suncor Energy Inc. (NYSE:SUFree Report) (TSE:SU) by 301.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 376,269 shares of the oil and gas producer’s stock after acquiring an additional 282,579 shares during the quarter. Corient Private Wealth LLC’s holdings in Suncor Energy were worth $12,056,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SU. Vanguard Personalized Indexing Management LLC raised its holdings in Suncor Energy by 10.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 29,873 shares of the oil and gas producer’s stock valued at $957,000 after buying an additional 2,895 shares during the period. Vanguard Group Inc. boosted its position in Suncor Energy by 1.5% during the third quarter. Vanguard Group Inc. now owns 50,379,614 shares of the oil and gas producer’s stock valued at $1,732,051,000 after purchasing an additional 731,163 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Suncor Energy by 13.3% during the third quarter. JPMorgan Chase & Co. now owns 5,348,348 shares of the oil and gas producer’s stock valued at $183,876,000 after purchasing an additional 628,262 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Suncor Energy by 1,689.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 565,339 shares of the oil and gas producer’s stock valued at $18,118,000 after purchasing an additional 533,754 shares in the last quarter. Finally, FMR LLC boosted its holdings in Suncor Energy by 0.3% in the third quarter. FMR LLC now owns 17,248,932 shares of the oil and gas producer’s stock worth $593,188,000 after acquiring an additional 49,765 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SU shares. Morgan Stanley raised their price objective on Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. TD Securities lifted their price target on Suncor Energy from $52.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, May 16th. Finally, The Goldman Sachs Group raised their price objective on Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.67.

Check Out Our Latest Research Report on Suncor Energy

Suncor Energy Price Performance

SU stock traded up $0.18 during midday trading on Friday, hitting $40.30. 5,251,526 shares of the stock were exchanged, compared to its average volume of 4,518,806. The stock’s 50-day moving average price is $38.46 and its 200-day moving average price is $34.72. The stock has a market cap of $51.82 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 3.69 and a beta of 1.11. Suncor Energy Inc. has a fifty-two week low of $27.59 and a fifty-two week high of $41.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 1.51.

Suncor Energy (NYSE:SUGet Free Report) (TSE:SU) last released its quarterly earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.13. The company had revenue of $10.39 billion during the quarter, compared to the consensus estimate of $8.46 billion. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. During the same quarter last year, the business posted $1.33 earnings per share. Research analysts predict that Suncor Energy Inc. will post 3.63 earnings per share for the current year.

Suncor Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th will be given a $0.395 dividend. This represents a $1.58 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Tuesday, June 4th. Suncor Energy’s dividend payout ratio is currently 35.86%.

Suncor Energy Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

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