Metis Global Partners LLC Raises Holdings in Suncor Energy Inc. $SU

Metis Global Partners LLC lifted its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 14.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 103,994 shares of the oil and gas producer’s stock after acquiring an additional 13,442 shares during the quarter. Metis Global Partners LLC’s holdings in Suncor Energy were worth $4,352,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SU. Richardson Financial Services Inc. boosted its position in Suncor Energy by 64.1% during the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 275 shares during the period. Headlands Technologies LLC bought a new stake in shares of Suncor Energy in the second quarter valued at approximately $31,000. Hanson & Doremus Investment Management lifted its stake in shares of Suncor Energy by 143.5% during the 3rd quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 465 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Suncor Energy by 95.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 388 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new position in Suncor Energy in the 2nd quarter valued at approximately $37,000. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Price Performance

Shares of NYSE SU opened at $55.96 on Friday. The stock’s 50-day simple moving average is $47.96 and its two-hundred day simple moving average is $43.57. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $56.46. The firm has a market capitalization of $66.59 billion, a P/E ratio of 16.13 and a beta of 0.46. The company has a quick ratio of 0.89, a current ratio of 1.39 and a debt-to-equity ratio of 0.20.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.The firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.79 billion. During the same quarter last year, the company posted $1.25 EPS. As a group, equities analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Wednesday, March 4th. Suncor Energy’s payout ratio is currently 49.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Wells Fargo & Company assumed coverage on Suncor Energy in a research note on Friday, October 17th. They set an “equal weight” rating on the stock. Royal Bank Of Canada raised their target price on Suncor Energy from $69.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. The Goldman Sachs Group lifted their target price on Suncor Energy from $48.00 to $54.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Suncor Energy in a report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $61.00.

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.