Goehring & Rozencwajg Associates LLC Acquires New Position in Suncor Energy Inc. $SU

Goehring & Rozencwajg Associates LLC acquired a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 727,381 shares of the oil and gas producer’s stock, valued at approximately $32,267,000. Suncor Energy accounts for about 3.1% of Goehring & Rozencwajg Associates LLC’s investment portfolio, making the stock its 13th biggest position.

Other hedge funds have also recently modified their holdings of the company. Swiss Life Asset Management Ltd grew its holdings in shares of Suncor Energy by 35.0% in the third quarter. Swiss Life Asset Management Ltd now owns 101,192 shares of the oil and gas producer’s stock valued at $4,240,000 after purchasing an additional 26,252 shares during the period. Picton Mahoney Asset Management grew its holdings in shares of Suncor Energy by 314.8% in the third quarter. Picton Mahoney Asset Management now owns 627,313 shares of the oil and gas producer’s stock valued at $26,246,000 after purchasing an additional 476,077 shares during the period. Intact Investment Management Inc. grew its holdings in shares of Suncor Energy by 36.3% in the fourth quarter. Intact Investment Management Inc. now owns 1,695,160 shares of the oil and gas producer’s stock valued at $75,236,000 after purchasing an additional 451,110 shares during the period. American Century Companies Inc. grew its holdings in shares of Suncor Energy by 2.1% in the third quarter. American Century Companies Inc. now owns 896,556 shares of the oil and gas producer’s stock valued at $37,519,000 after purchasing an additional 18,231 shares during the period. Finally, SCP Investment LP purchased a new stake in shares of Suncor Energy in the third quarter valued at about $1,915,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Down 0.4%

NYSE SU opened at $61.56 on Friday. The firm’s 50-day moving average is $64.94 and its two-hundred day moving average is $56.36. Suncor Energy Inc. has a 12 month low of $37.22 and a 12 month high of $70.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. The stock has a market capitalization of $72.69 billion, a P/E ratio of 16.16 and a beta of 0.27.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The company had revenue of $10.41 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the company earned $1.31 EPS. On average, sell-side analysts anticipate that Suncor Energy Inc. will post 7.07 earnings per share for the current year.

Suncor Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.9%. Suncor Energy’s dividend payout ratio is presently 45.67%.

Analyst Upgrades and Downgrades

SU has been the subject of a number of analyst reports. Weiss Ratings lowered shares of Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. The Goldman Sachs Group lowered shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a report on Friday, June 5th. Zacks Research lowered shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. Finally, Royal Bank Of Canada upped their target price on shares of Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, April 1st. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.67.

About Suncor Energy

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.