VELA Investment Management LLC Has $2.41 Million Stock Position in Suncor Energy Inc. $SU

VELA Investment Management LLC decreased its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 12.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,368 shares of the oil and gas producer’s stock after selling 7,631 shares during the quarter. VELA Investment Management LLC’s holdings in Suncor Energy were worth $2,412,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Suncor Energy by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer’s stock worth $2,473,173,000 after purchasing an additional 1,166,405 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in shares of Suncor Energy by 0.4% during the 3rd quarter. Artisan Partners Limited Partnership now owns 33,868,775 shares of the oil and gas producer’s stock worth $1,417,029,000 after purchasing an additional 145,800 shares during the last quarter. Dodge & Cox increased its stake in shares of Suncor Energy by 0.3% during the 3rd quarter. Dodge & Cox now owns 27,471,954 shares of the oil and gas producer’s stock worth $1,148,602,000 after purchasing an additional 70,300 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Suncor Energy by 0.6% during the 3rd quarter. Principal Financial Group Inc. now owns 18,854,921 shares of the oil and gas producer’s stock worth $789,213,000 after purchasing an additional 106,765 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Suncor Energy by 85.5% during the 3rd quarter. Fisher Asset Management LLC now owns 15,530,965 shares of the oil and gas producer’s stock worth $649,350,000 after purchasing an additional 7,158,953 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Performance

NYSE:SU opened at $67.58 on Friday. Suncor Energy Inc. has a 1 year low of $33.50 and a 1 year high of $68.62. The firm’s fifty day simple moving average is $62.02 and its 200 day simple moving average is $51.51. 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 firm has a market capitalization of $80.03 billion, a PE ratio of 19.48 and a beta of 0.31.

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, beating analysts’ consensus estimates of $0.77 by $0.02. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. The business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.79 billion. During the same period last year, the business posted $1.25 EPS. On average, sell-side analysts anticipate that Suncor Energy Inc. will post 6.72 EPS for the current year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.6%. The ex-dividend date was Wednesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 50.72%.

Analysts Set New Price Targets

SU has been the topic of several analyst reports. Royal Bank Of Canada increased their price target on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 1st. Zacks Research upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. The Goldman Sachs Group raised their target price on shares of Suncor Energy from $66.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. JPMorgan Chase & Co. upgraded shares of Suncor Energy from a “neutral” rating to an “overweight” rating and raised their target price for the company from $46.15 to $54.00 in a research note on Tuesday, January 20th. Finally, ATB Cormark Capital Markets upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $72.00.

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.