Ritholtz Wealth Management Purchases 5,573 Shares of Suncor Energy Inc. $SU

Ritholtz Wealth Management lifted its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 7.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 84,313 shares of the oil and gas producer’s stock after purchasing an additional 5,573 shares during the period. Ritholtz Wealth Management’s holdings in Suncor Energy were worth $3,158,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the business. Acadian Asset Management LLC increased its position in shares of Suncor Energy by 12,290.9% during the first quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer’s stock valued at $480,760,000 after purchasing an additional 12,318,559 shares during the period. Principal Financial Group Inc. increased its holdings in Suncor Energy by 65.0% in the 1st quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer’s stock valued at $620,136,000 after buying an additional 6,311,513 shares during the period. Goldman Sachs Group Inc. increased its holdings in Suncor Energy by 83.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,426,008 shares of the oil and gas producer’s stock valued at $481,135,000 after buying an additional 5,658,880 shares during the period. Nuveen LLC bought a new stake in Suncor Energy in the first quarter valued at about $126,048,000. Finally, Mackenzie Financial Corp increased its stake in Suncor Energy by 18.6% in the first quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer’s stock valued at $595,398,000 after acquiring an additional 2,410,857 shares during the period. 67.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Suncor Energy in a research note on Wednesday, October 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $65.00 price objective on shares of Suncor Energy in a research note on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.00.

Suncor Energy Stock Down 0.6%

NYSE SU opened at $39.14 on Thursday. The firm has a market cap of $47.32 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 3.19 and a beta of 0.78. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $43.48. The stock’s 50 day simple moving average is $40.72 and its 200 day simple moving average is $38.27. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The business had revenue of $8.81 billion for the quarter, compared to analyst estimates of $11.56 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.During the same period in the prior year, the company earned $1.27 EPS. As a group, sell-side analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th were paid a dividend of $0.4135 per share. This represents a $1.65 annualized dividend and a dividend yield of 4.2%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, September 4th. Suncor Energy’s payout ratio is currently 50.77%.

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.