Old West Investment Management LLC Invests $22.45 Million in Suncor Energy Inc. $SU

Old West Investment Management LLC acquired a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 418,292 shares of the oil and gas producer’s stock, valued at approximately $22,454,000. Suncor Energy makes up approximately 2.4% of Old West Investment Management LLC’s holdings, making the stock its 6th biggest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc boosted its position in Suncor Energy by 418.9% during the 2nd quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 398 shares during the last quarter. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Suncor Energy by 54.9% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 225 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Suncor Energy in the second quarter valued at approximately $31,000. 1 North Wealth Services LLC bought a new stake in shares of Suncor Energy in the fourth quarter worth $32,000. Finally, Accent Capital Management LLC lifted its position in shares of Suncor Energy by 37.5% in the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 225 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

SU has been the subject of several recent research reports. The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price for the company. in a report on Friday, June 5th. Zacks Research lowered shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Wall Street Zen cut shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. Finally, Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $71.67.

Suncor Energy Trading Up 0.0%

Shares of Suncor Energy stock opened at $65.85 on Monday. Suncor Energy Inc. has a 12-month low of $37.76 and a 12-month high of $70.29. The stock has a market cap of $77.75 billion, a P/E ratio of 12.13, a P/E/G ratio of 0.49 and a beta of 0.29. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19. The business’s 50 day moving average is $60.44 and its 200-day moving average is $61.15.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, beating the consensus estimate of $2.14 by $0.19. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.The company had revenue of $13.41 billion during the quarter, compared to the consensus estimate of $11.68 billion. During the same quarter in the prior year, the firm posted $0.71 EPS. Equities research analysts predict that Suncor Energy Inc. will post 7.13 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a $0.60 dividend. The ex-dividend date is Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.6%. Suncor Energy’s dividend payout ratio (DPR) is currently 32.04%.

Suncor Energy 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.