Riverhead Capital Management LLC Has $310,000 Position in Suncor Energy Inc. (NYSE:SU)
Riverhead Capital Management LLC lifted its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 21.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,292 shares of the oil and gas producer’s stock after purchasing an additional 1,792 shares during the period. Riverhead Capital Management LLC’s holdings in Suncor Energy were worth $310,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. Resources Investment Advisors LLC. increased its holdings in shares of Suncor Energy by 33.3% in the second quarter. Resources Investment Advisors LLC. now owns 1,600 shares of the oil and gas producer’s stock valued at $50,000 after purchasing an additional 400 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Suncor Energy by 141.3% in the second quarter. Renaissance Technologies LLC now owns 2,651,246 shares of the oil and gas producer’s stock valued at $82,717,000 after acquiring an additional 1,552,600 shares during the last quarter. Cidel Asset Management Inc. boosted its stake in Suncor Energy by 7.7% in the second quarter. Cidel Asset Management Inc. now owns 2,869,692 shares of the oil and gas producer’s stock valued at $89,709,000 after acquiring an additional 205,227 shares during the last quarter. Fiera Capital Corp boosted its stake in Suncor Energy by 4.1% in the second quarter. Fiera Capital Corp now owns 7,828,395 shares of the oil and gas producer’s stock valued at $244,245,000 after acquiring an additional 310,913 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in Suncor Energy by 3.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 27,683 shares of the oil and gas producer’s stock valued at $862,000 after acquiring an additional 937 shares during the last quarter. 65.34% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have issued reports on SU. ValuEngine raised shares of Suncor Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, August 27th. BMO Capital Markets reaffirmed a “buy” rating on shares of Suncor Energy in a research note on Monday, June 24th. Finally, Citigroup reduced their price objective on shares of Suncor Energy from $59.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $48.23.
Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Wednesday, July 24th. The oil and gas producer reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.09). The firm had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $8.15 billion. Suncor Energy had a return on equity of 10.20% and a net margin of 14.55%. Equities research analysts expect that Suncor Energy Inc. will post 2.41 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.321 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.21%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, September 3rd. Suncor Energy’s dividend payout ratio (DPR) is currently 63.00%.
Suncor Energy Profile
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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