Recurrent Investment Advisors LLC Buys 192,488 Shares of Suncor Energy Inc. (NYSE:SU)

Recurrent Investment Advisors LLC lifted its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 13.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,655,402 shares of the oil and gas producer’s stock after purchasing an additional 192,488 shares during the quarter. Suncor Energy comprises 6.1% of Recurrent Investment Advisors LLC’s investment portfolio, making the stock its 5th biggest position. Recurrent Investment Advisors LLC’s holdings in Suncor Energy were worth $61,979,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SU. Eastern Bank acquired a new position in Suncor Energy in the third quarter valued at approximately $25,000. Summit Securities Group LLC purchased a new stake in Suncor Energy in the second quarter valued at approximately $27,000. Richardson Financial Services Inc. raised its position in Suncor Energy by 82.8% in the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 328 shares during the period. Ridgewood Investments LLC purchased a new stake in Suncor Energy in the second quarter valued at approximately $29,000. Finally, ORG Partners LLC purchased a new stake in Suncor Energy in the second quarter valued at approximately $43,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Stock Performance

Shares of SU stock opened at $38.49 on Thursday. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. The firm has a fifty day moving average price of $39.18 and a 200 day moving average price of $38.84. The company has a market cap of $48.42 billion, a P/E ratio of 8.38, a PEG ratio of 2.57 and a beta of 1.11. Suncor Energy Inc. has a 12 month low of $29.45 and a 12 month high of $41.94.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be paid a $0.4089 dividend. This represents a $1.64 annualized dividend and a yield of 4.25%. The ex-dividend date is Tuesday, December 3rd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio is currently 36.82%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SU. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Suncor Energy has a consensus rating of “Moderate Buy” and an average target price of $56.40.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.