Old West Investment Management LLC Makes New Investment in Suncor Energy Inc. $SU

Old West Investment Management LLC acquired a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 418,292 shares of the oil and gas producer’s stock, valued at approximately $22,454,000. Suncor Energy accounts for approximately 2.4% of Old West Investment Management LLC’s holdings, making the stock its 6th largest holding.

Other hedge funds also recently made changes to their positions in the company. Intact Investment Management Inc. boosted its position in Suncor Energy by 36.3% during the fourth quarter. Intact Investment Management Inc. now owns 1,695,160 shares of the oil and gas producer’s stock worth $75,236,000 after purchasing an additional 451,110 shares during the period. Vanguard Group Inc. raised its position in shares of Suncor Energy by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer’s stock valued at $2,473,173,000 after purchasing an additional 1,166,405 shares during the period. Harvest Portfolios Group Inc. raised its position in shares of Suncor Energy by 9.1% in the fourth quarter. Harvest Portfolios Group Inc. now owns 360,668 shares of the oil and gas producer’s stock valued at $16,008,000 after purchasing an additional 30,210 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Suncor Energy by 3.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer’s stock worth $833,622,000 after buying an additional 411,243 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Suncor Energy by 6.3% during the 1st quarter. Public Employees Retirement System of Ohio now owns 846,111 shares of the oil and gas producer’s stock worth $55,802,000 after buying an additional 50,502 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Stock Up 0.0%

SU opened at $65.85 on Monday. The stock has a fifty day moving average of $60.44 and a 200-day moving average of $61.15. The company has a market capitalization of $77.75 billion, a P/E ratio of 12.13, a P/E/G ratio of 0.49 and a beta of 0.29. Suncor Energy Inc. has a fifty-two week low of $37.76 and a fifty-two week high of $70.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.65.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, beating the consensus estimate of $2.14 by $0.19. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. The business had revenue of $13.41 billion for the quarter, compared to the consensus estimate of $11.68 billion. During the same period in the prior year, the company posted $0.71 earnings per share. On average, equities analysts expect that Suncor Energy Inc. will post 7.13 EPS for the current year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, September 4th. Suncor Energy’s dividend payout ratio is presently 32.04%.

Analyst Ratings Changes

Several brokerages recently commented on SU. The Goldman Sachs Group lowered shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target on the stock. in a research note on Friday, June 5th. Weiss Ratings upgraded shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. Wall Street Zen cut Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Desjardins raised Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $71.67.

Suncor Energy Company 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.