Metis Global Partners LLC Purchases 13,442 Shares of Suncor Energy Inc. $SU

Metis Global Partners LLC raised its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 14.8% during the third quarter, HoldingsChannel reports. The firm owned 103,994 shares of the oil and gas producer’s stock after purchasing an additional 13,442 shares during the period. Metis Global Partners LLC’s holdings in Suncor Energy were worth $4,352,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Richardson Financial Services Inc. increased its position in shares of Suncor Energy by 64.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 275 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Suncor Energy in the second quarter worth approximately $31,000. Hanson & Doremus Investment Management boosted its stake in Suncor Energy by 143.5% in the third quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 465 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Suncor Energy by 95.8% during the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 388 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Suncor Energy during the second quarter worth approximately $37,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Stock Performance

Shares of NYSE:SU opened at $55.96 on Friday. The company has a current ratio of 1.39, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average price of $47.96 and a 200-day moving average price of $43.57. The company has a market cap of $66.59 billion, a price-to-earnings ratio of 16.13 and a beta of 0.46. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $56.46.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. The company had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.79 billion. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.During the same period last year, the firm earned $1.25 earnings per share. As a group, equities analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Wednesday, March 4th. Suncor Energy’s dividend payout ratio is currently 49.57%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SU. The Goldman Sachs Group upped their price objective on shares of Suncor Energy from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Suncor Energy in a research note on Monday, December 29th. JPMorgan Chase & Co. raised Suncor Energy from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $46.15 to $54.00 in a research note on Tuesday, January 20th. Wells Fargo & Company began coverage on Suncor Energy in a research note on Friday, October 17th. They issued an “equal weight” rating for the company. Finally, Zacks Research cut Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Suncor Energy presently has an average rating of “Moderate Buy” and an average price target of $61.00.

Suncor Energy Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.