Navellier & Associates Inc. Invests $3.35 Million in Suncor Energy Inc. $SU

Navellier & Associates Inc. bought a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 62,359 shares of the oil and gas producer’s stock, valued at approximately $3,347,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc lifted its position in Suncor Energy by 418.9% during the second quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 398 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Suncor Energy in the 2nd quarter worth $31,000. 1 North Wealth Services LLC bought a new stake in shares of Suncor Energy in the 4th quarter worth about $32,000. Accent Capital Management LLC increased its holdings in shares of 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 worth $37,000 after buying an additional 225 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of Suncor Energy in the 4th quarter worth about $44,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Trading Down 1.4%

Shares of SU opened at $65.50 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 $77.34 billion, a P/E ratio of 12.06, a P/E/G ratio of 0.48 and a beta of 0.30. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. The company’s fifty day simple moving average is $61.93 and its 200-day simple moving average is $62.06.

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, topping analysts’ consensus estimates of $2.14 by $0.19. The firm 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 period in the previous year, the company earned $0.71 EPS. As a group, analysts expect that Suncor Energy Inc. will post 7.39 EPS for the current year.

Suncor Energy Announces Dividend

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 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, September 4th. Suncor Energy’s payout ratio is 32.04%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SU. Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. The Goldman Sachs Group cut Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a research note on Friday, June 5th. Wall Street Zen downgraded Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Zacks Research lowered Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Desjardins raised Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $80.25.

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.