Robertson Stephens Wealth Management LLC Increases Stake in Suncor Energy Inc. (NYSE:SU)

Robertson Stephens Wealth Management LLC raised its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,591 shares of the oil and gas producer’s stock after buying an additional 1,103 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Suncor Energy were worth $806,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Eastern Bank purchased a new stake in Suncor Energy during the third quarter valued at approximately $25,000. HHM Wealth Advisors LLC increased its holdings in Suncor Energy by 62.1% during the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after buying an additional 325 shares during the last quarter. Waldron Private Wealth LLC purchased a new stake in Suncor Energy during the third quarter valued at approximately $49,000. UMB Bank n.a. increased its holdings in Suncor Energy by 27.5% during the fourth quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer’s stock valued at $50,000 after buying an additional 300 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. increased its holdings in Suncor Energy by 2,311.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,977 shares of the oil and gas producer’s stock valued at $73,000 after buying an additional 1,895 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Price Performance

Shares of NYSE:SU opened at $38.73 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. The firm has a fifty day moving average price of $37.65 and a 200 day moving average price of $38.54. Suncor Energy Inc. has a fifty-two week low of $31.25 and a fifty-two week high of $41.94. The firm has a market cap of $48.20 billion, a price-to-earnings ratio of 8.44, a P/E/G ratio of 2.89 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 15.19% and a return on equity of 15.67%. As a group, sell-side analysts expect that Suncor Energy Inc. will post 3.7 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.399 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.60 annualized dividend and a yield of 4.12%. Suncor Energy’s dividend payout ratio (DPR) is currently 35.08%.

Analysts Set New Price Targets

SU has been the subject of a number of analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 price objective on shares of Suncor Energy in a research note on Tuesday, January 7th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Morgan Stanley cut shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Finally, StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $58.00.

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.