Jefferies Financial Group Inc. Makes New Investment in Suncor Energy Inc. $SU

Jefferies Financial Group Inc. acquired a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 37,262 shares of the oil and gas producer’s stock, valued at approximately $2,002,000.

Several other hedge funds have also made changes to their positions in SU. Versant Capital Management Inc grew its holdings in shares of 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 worth $26,000 after buying an additional 398 shares during the last quarter. 1 North Wealth Services LLC purchased a new stake in Suncor Energy during the 4th quarter valued at approximately $32,000. Cassaday & Co Wealth Management LLC purchased a new stake in Suncor Energy during the 1st quarter valued at approximately $53,000. Headlands Technologies LLC acquired a new stake in Suncor Energy during the 2nd quarter worth approximately $31,000. Finally, Accent Capital Management LLC lifted its position in Suncor Energy by 37.5% during the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 225 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Performance

NYSE SU opened at $65.50 on Friday. Suncor Energy Inc. has a 1-year low of $37.76 and a 1-year high of $70.29. The company has a market capitalization of $77.34 billion, a P/E ratio of 12.06, a PEG ratio of 0.47 and a beta of 0.30. The business has a 50 day moving average price of $61.93 and a 200 day moving average price of $62.06. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its 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 company had revenue of $13.41 billion for the quarter, compared to the consensus estimate 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 business earned $0.71 earnings per share. Sell-side analysts expect that Suncor Energy Inc. will post 7.39 EPS for the current fiscal year.

Suncor Energy Announces Dividend

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 paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, September 4th. Suncor Energy’s dividend payout ratio is presently 32.04%.

Analysts Set New Price Targets

SU has been the topic of a number of recent research reports. Wall Street Zen lowered Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Zacks Research downgraded shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Morgan Stanley set a $106.00 price target on shares of Suncor Energy in a research note on Wednesday, August 19th. Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Finally, Weiss Ratings upgraded shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Suncor Energy presently has an average rating of “Moderate Buy” and a consensus price target 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.