Golden State Wealth Management LLC Boosts Stake in Suncor Energy Inc. (NYSE:SU)

Golden State Wealth Management LLC raised its holdings in shares of Suncor Energy Inc. (NYSE:SUFree Report) (TSE:SU) by 100.0% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,188 shares of the oil and gas producer’s stock after acquiring an additional 1,094 shares during the period. Golden State Wealth Management LLC’s holdings in Suncor Energy were worth $85,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hanson & Doremus Investment Management grew its position in Suncor Energy by 143.5% during the first quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 465 shares in the last quarter. Salem Investment Counselors Inc. grew its position in Suncor Energy by 97.6% during the first quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 405 shares in the last quarter. Crowley Wealth Management Inc. purchased a new position in Suncor Energy during the fourth quarter worth about $35,000. Lee Danner & Bass Inc. purchased a new position in Suncor Energy during the fourth quarter worth about $36,000. Finally, Covestor Ltd grew its position in Suncor Energy by 30.5% during the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock worth $39,000 after buying an additional 256 shares in the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Trading Down 0.4%

Shares of SU stock opened at $37.45 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average price of $36.71 and a two-hundred day moving average price of $36.94. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $41.95. The firm has a market cap of $45.79 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 3.27 and a beta of 0.79.

Suncor Energy (NYSE:SUGet Free Report) (TSE:SU) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. Suncor Energy had a return on equity of 14.90% and a net margin of 11.95%. The firm had revenue of $9.10 billion during the quarter, compared to analyst estimates of $13.39 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. Equities analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th were paid a $0.4133 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date was Wednesday, June 4th. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s payout ratio is 47.84%.

Analyst Ratings Changes

Several research firms recently commented on SU. Wall Street Zen cut Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, April 17th. Scotiabank raised Suncor Energy to a “hold” rating in a research note on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Suncor Energy presently has an average rating of “Moderate Buy” and a consensus price target of $64.67.

View Our Latest Stock Analysis on Suncor Energy

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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