Polar Asset Management Partners Inc. Invests $2.87 Million in Suncor Energy Inc. $SU

Polar Asset Management Partners Inc. purchased a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 53,481 shares of the oil and gas producer’s stock, valued at approximately $2,873,000.

Several other institutional investors also recently modified their holdings of SU. Formidable Asset Management LLC raised its position in Suncor Energy by 1.1% in the 1st quarter. Formidable Asset Management LLC now owns 16,004 shares of the oil and gas producer’s stock worth $1,058,000 after buying an additional 171 shares during the last quarter. Mitchell & Pahl Private Wealth LLC boosted its holdings in shares of Suncor Energy by 0.8% during the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 24,278 shares of the oil and gas producer’s stock valued at $1,605,000 after acquiring an additional 190 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Suncor Energy by 22.6% in the fourth quarter. IFP Advisors Inc now owns 1,047 shares of the oil and gas producer’s stock worth $46,000 after acquiring an additional 193 shares during the period. DGS Capital Management LLC grew its stake in shares of Suncor Energy by 3.2% in the fourth quarter. DGS Capital Management LLC now owns 6,149 shares of the oil and gas producer’s stock worth $273,000 after acquiring an additional 193 shares during the period. Finally, Bryn Mawr Trust Advisors LLC raised its holdings in shares of Suncor Energy by 3.5% during the fourth quarter. Bryn Mawr Trust Advisors LLC now owns 5,742 shares of the oil and gas producer’s stock valued at $255,000 after purchasing an additional 196 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SU shares. Morgan Stanley set a $106.00 price objective on shares of Suncor Energy in a research report on Wednesday, August 19th. Zacks Research cut Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 29th. Finally, Wall Street Zen lowered shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. One 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.25.

Suncor Energy Stock Performance

NYSE:SU opened at $65.38 on Wednesday. The stock has a 50-day moving average price of $61.32 and a 200 day moving average price of $61.86. The stock has a market capitalization of $77.20 billion, a P/E ratio of 12.04, a P/E/G ratio of 0.49 and a beta of 0.30. Suncor Energy Inc. has a 12-month low of $37.76 and a 12-month high of $70.29. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.19. The business had revenue of $13.41 billion during 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 prior year, the company posted $0.71 EPS. Equities research analysts forecast that Suncor Energy Inc. will post 7.39 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued 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 of this dividend is Friday, September 4th. Suncor Energy’s dividend payout ratio is 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.