Public Employees Retirement System of Ohio Invests $30.77 Million in Suncor Energy Inc. $SU

Public Employees Retirement System of Ohio purchased a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 572,371 shares of the oil and gas producer’s stock, valued at approximately $30,765,000.

Other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc increased 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 buying an additional 398 shares during the period. 1 North Wealth Services LLC acquired a new position in shares of Suncor Energy in the fourth quarter valued at about $32,000. Cassaday & Co Wealth Management LLC bought a new position in Suncor Energy during the first quarter worth about $53,000. Headlands Technologies LLC acquired a new stake in Suncor Energy in the 2nd quarter worth about $31,000. Finally, Accent Capital Management LLC boosted its holdings in Suncor Energy by 37.5% in the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 225 shares during the period. 67.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Suncor Energy Price Performance

SU stock opened at $65.50 on Friday. The company has a market capitalization of $77.34 billion, a P/E ratio of 12.06, a PEG ratio of 0.48 and a beta of 0.30. The company has a fifty 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 quick ratio of 1.08 and a current ratio of 1.65. Suncor Energy Inc. has a 52-week low of $37.76 and a 52-week high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data 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 company had revenue of $13.41 billion for the quarter, compared to analysts’ expectations of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same quarter in the previous year, the firm posted $0.71 earnings per share. As a group, equities analysts expect that Suncor Energy Inc. will post 7.39 EPS for the current year.

Suncor Energy Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.40 annualized dividend and a yield of 3.7%. Suncor Energy’s payout ratio is presently 32.04%.

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.