Suncor Energy Inc. $SU Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System boosted its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 4.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 333,019 shares of the oil and gas producer’s stock after buying an additional 13,400 shares during the period. Maryland State Retirement & Pension System’s holdings in Suncor Energy were worth $13,932,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. AQR Capital Management LLC boosted its holdings in shares of Suncor Energy by 14.2% in the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock valued at $959,000 after purchasing an additional 3,115 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Suncor Energy by 172.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock valued at $77,000 after acquiring an additional 1,254 shares during the last quarter. Parallel Advisors LLC increased its stake in Suncor Energy by 65.4% during the second quarter. Parallel Advisors LLC now owns 8,616 shares of the oil and gas producer’s stock worth $323,000 after acquiring an additional 3,408 shares during the last quarter. Mitchell & Pahl Private Wealth LLC raised its holdings in shares of Suncor Energy by 4.3% in the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 24,343 shares of the oil and gas producer’s stock worth $912,000 after purchasing an additional 1,000 shares during the period. Finally, Park Avenue Securities LLC lifted its holdings in shares of Suncor Energy by 15.1% during the 2nd quarter. Park Avenue Securities LLC now owns 36,295 shares of the oil and gas producer’s stock valued at $1,359,000 after acquiring an additional 4,752 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $49.73 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.85 and a current ratio of 1.35. Suncor Energy Inc. has a 1 year low of $30.79 and a 1 year high of $50.24. The firm’s 50-day simple moving average is $44.62 and its 200-day simple moving average is $41.70. The firm has a market cap of $59.35 billion, a PE ratio of 16.30 and a beta of 0.46.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.22. The firm had revenue of $9.04 billion for the quarter, compared to analysts’ expectations of $8.82 billion. Suncor Energy had a return on equity of 13.01% and a net margin of 10.61%.During the same quarter in the prior year, the firm posted $1.48 earnings per share. Equities analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 3rd were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Wednesday, December 3rd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s payout ratio is 56.07%.

Analyst Ratings Changes

Several research firms have commented on SU. Raymond James Financial raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Royal Bank Of Canada reissued an “outperform” rating and set a $65.00 price target on shares of Suncor Energy in a research report on Friday, October 3rd. The Goldman Sachs Group increased their price objective on shares of Suncor Energy from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, January 2nd. Zacks Research upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 22nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a research note on Monday, December 29th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $56.50.

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.