Axa Buys 12,335 Shares of Suncor Energy Inc. (SU)
Axa boosted its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 12.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,024 shares of the oil and gas producer’s stock after purchasing an additional 12,335 shares during the quarter. Axa’s holdings in Suncor Energy were worth $3,242,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. FMR LLC increased its holdings in Suncor Energy by 3.4% during the 1st quarter. FMR LLC now owns 105,191,127 shares of the oil and gas producer’s stock worth $3,229,653,000 after purchasing an additional 3,492,013 shares during the period. Wellington Management Group LLP increased its holdings in Suncor Energy by 5.2% during the 1st quarter. Wellington Management Group LLP now owns 62,617,740 shares of the oil and gas producer’s stock worth $1,922,960,000 after purchasing an additional 3,103,397 shares during the period. Vanguard Group Inc. increased its holdings in Suncor Energy by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 38,530,806 shares of the oil and gas producer’s stock worth $1,184,822,000 after purchasing an additional 1,549,342 shares during the period. BlackRock Inc. increased its holdings in Suncor Energy by 11,547,276.0% during the 1st quarter. BlackRock Inc. now owns 23,556,647 shares of the oil and gas producer’s stock worth $724,366,000 after purchasing an additional 23,556,443 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in Suncor Energy by 4.8% during the 2nd quarter. CIBC Asset Management Inc now owns 15,871,361 shares of the oil and gas producer’s stock worth $463,195,000 after purchasing an additional 725,934 shares during the period. Institutional investors own 64.05% of the company’s stock.
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Several brokerages have weighed in on SU. Zacks Investment Research upgraded Suncor Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 12th. BidaskClub downgraded Suncor Energy from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Citigroup Inc. reiterated a “buy” rating on shares of Suncor Energy in a report on Wednesday, August 2nd. AltaCorp Capital downgraded Suncor Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, July 28th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $52.00 price objective (up previously from $47.00) on shares of Suncor Energy in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $42.86.
Shares of Suncor Energy Inc. (NYSE:SU) opened at 33.97 on Tuesday. The firm has a market capitalization of $56.37 billion, a PE ratio of 26.31 and a beta of 0.82. Suncor Energy Inc. has a 12 month low of $25.70 and a 12 month high of $34.37. The company has a 50 day moving average price of $32.30 and a 200-day moving average price of $31.02.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Tuesday, September 5th will be issued a $0.2552 dividend. This is a positive change from Suncor Energy ‘s previous quarterly dividend of $0.24. This represents a $1.02 annualized dividend and a yield of 3.00%. The ex-dividend date is Thursday, August 31st. Suncor Energy ‘s payout ratio is currently 84.43%.
Suncor Energy Company Profile
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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