Korea Investment CORP Acquires New Holdings in Suncor Energy Inc. $SU

Korea Investment CORP bought a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 927,533 shares of the oil and gas producer’s stock, valued at approximately $49,882,000. Korea Investment CORP owned about 0.08% of Suncor Energy as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Formidable Asset Management LLC grew its holdings in Suncor Energy by 1.1% during the first quarter. Formidable Asset Management LLC now owns 16,004 shares of the oil and gas producer’s stock valued at $1,058,000 after purchasing an additional 171 shares during the last quarter. Mitchell & Pahl Private Wealth LLC lifted its stake in shares of Suncor Energy by 0.8% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 24,278 shares of the oil and gas producer’s stock worth $1,605,000 after buying an additional 190 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Suncor Energy by 22.6% in the fourth quarter. IFP Advisors Inc now owns 1,047 shares of the oil and gas producer’s stock worth $46,000 after buying an additional 193 shares during the last quarter. DGS Capital Management LLC boosted its holdings in shares of Suncor Energy by 3.2% during the 4th quarter. DGS Capital Management LLC now owns 6,149 shares of the oil and gas producer’s stock worth $273,000 after buying an additional 193 shares during the period. Finally, Bryn Mawr Trust Advisors LLC boosted its holdings in shares of Suncor Energy by 3.5% during the 4th quarter. Bryn Mawr Trust Advisors LLC now owns 5,742 shares of the oil and gas producer’s stock worth $255,000 after buying an additional 196 shares during the period. Institutional investors own 67.37% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on SU. Zacks Research lowered shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target on the stock. in a research report on Friday, June 5th. Finally, Morgan Stanley set a $106.00 price objective on Suncor Energy in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.25.

Suncor Energy Stock Up 0.8%

SU stock opened at $68.46 on Friday. Suncor Energy Inc. has a twelve month low of $37.76 and a twelve month high of $70.29. The company has a market cap of $80.83 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 0.49 and a beta of 0.30. The business’s 50-day simple moving average is $61.02 and its 200 day simple moving average is $61.61. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19.

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

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.5%. Suncor Energy’s payout ratio is currently 32.04%.

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.