38,951 Shares in Suncor Energy Inc. $SU Bought by Quantitative Investment Management LLC

Quantitative Investment Management LLC bought a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 38,951 shares of the oil and gas producer’s stock, valued at approximately $2,090,000.

Other large investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Suncor Energy in the second quarter worth $816,551,000. The Manufacturers Life Insurance Company acquired a new position in shares of Suncor Energy during the second quarter worth $790,952,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Suncor Energy by 121.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer’s stock valued at $1,724,954,000 after purchasing an additional 14,304,131 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Suncor Energy during the 2nd quarter valued at $466,810,000. Finally, Bank of America Corp DE acquired a new stake in shares of Suncor Energy in the 2nd quarter worth $351,892,000. 67.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SU. The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price on the stock. in a research note on Friday, June 5th. Morgan Stanley set a $106.00 price target on Suncor Energy in a report on Wednesday, August 19th. Desjardins upgraded Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Weiss Ratings upgraded shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 29th. Finally, Wall Street Zen lowered shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.25.

Suncor Energy Stock Up 2.1%

Suncor Energy stock opened at $66.82 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.65. The business’s 50-day simple moving average is $62.14 and its two-hundred day simple moving average is $62.20. The company has a market cap of $78.90 billion, a PE ratio of 12.31, a PEG ratio of 0.47 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.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.19. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.The business had revenue of $13.41 billion for the quarter, compared to analyst estimates of $11.68 billion. During the same period in the prior year, the company earned $0.71 earnings per share. Equities analysts anticipate that Suncor Energy Inc. will post 7.39 EPS for the current year.

Suncor Energy Dividend Announcement

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

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.