Dynamic Technology Lab Private Ltd Acquires New Position in Suncor Energy Inc. (SU)
Dynamic Technology Lab Private Ltd acquired a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 43,632 shares of the oil and gas producer’s stock, valued at approximately $1,688,000.
A number of other hedge funds have also recently bought and sold shares of SU. Raymond James Financial Services Advisors Inc. lifted its stake in Suncor Energy by 23.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 71,447 shares of the oil and gas producer’s stock valued at $2,907,000 after buying an additional 13,424 shares in the last quarter. First Manhattan Co. lifted its stake in Suncor Energy by 136.0% during the second quarter. First Manhattan Co. now owns 4,000 shares of the oil and gas producer’s stock valued at $162,000 after buying an additional 2,305 shares in the last quarter. D.A. Davidson & CO. purchased a new stake in Suncor Energy during the second quarter valued at about $340,000. CIBC Private Wealth Group LLC lifted its stake in Suncor Energy by 24.9% during the second quarter. CIBC Private Wealth Group LLC now owns 141,416 shares of the oil and gas producer’s stock valued at $5,753,000 after buying an additional 28,206 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Suncor Energy during the second quarter valued at about $2,079,000. 64.82% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on SU shares. ValuEngine lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, September 11th. Macquarie lowered shares of Suncor Energy from an “outperform” rating to a “neutral” rating and set a $46.00 price target for the company. in a research report on Tuesday. Mizuho reissued an “average” rating and issued a $52.00 price target on shares of Suncor Energy in a research report on Monday. JPMorgan Chase & Co. lowered shares of Suncor Energy from an “overweight” rating to a “neutral” rating in a research report on Tuesday, September 11th. Finally, Raymond James reissued a “buy” rating on shares of Suncor Energy in a research report on Friday, November 2nd. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $51.00.
Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Wednesday, October 31st. The oil and gas producer reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.25. The business had revenue of $8.31 billion during the quarter, compared to analyst estimates of $9.29 billion. Suncor Energy had a net margin of 12.66% and a return on equity of 11.11%. During the same period in the prior year, the firm earned $0.52 earnings per share. Sell-side analysts predict that Suncor Energy Inc. will post 2.46 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 24th. Stockholders of record on Monday, December 3rd will be given a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Friday, November 30th. Suncor Energy’s dividend payout ratio (DPR) is 71.52%.
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About Suncor Energy
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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