State of Wyoming Acquires Shares of 13,058 Suncor Energy Inc. $SU

State of Wyoming bought a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 13,058 shares of the oil and gas producer’s stock, valued at approximately $701,000.

A number of other large investors have also modified their holdings of SU. Versant Capital Management Inc raised its position in shares of Suncor Energy by 418.9% in the second quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 398 shares during the last quarter. Atlantic Edge Private Wealth Management LLC boosted its position in Suncor Energy by 54.9% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 225 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Suncor Energy during the 2nd quarter valued at about $31,000. 1 North Wealth Services LLC acquired a new stake in Suncor Energy in the 4th quarter valued at about $32,000. Finally, Accent Capital Management LLC raised its holdings in Suncor Energy by 37.5% in the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

NYSE:SU opened at $65.85 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08. The firm has a market capitalization of $77.75 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 0.49 and a beta of 0.29. The company’s 50-day moving average is $60.44 and its two-hundred day moving average is $61.15. Suncor Energy Inc. has a 1-year low of $37.76 and a 1-year high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.19. The business had revenue of $13.41 billion during the quarter, compared to analysts’ expectations of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same quarter in the prior year, the company posted $0.71 EPS. Analysts forecast that Suncor Energy Inc. will post 7.13 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. Investors of record on Friday, September 4th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, September 4th. Suncor Energy’s dividend payout ratio is presently 32.04%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SU shares. Wall Street Zen cut Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. The Goldman Sachs Group cut Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a report on Friday, June 5th. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Scotiabank raised Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. Finally, Desjardins upgraded Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and a consensus target price 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.