Corient Private Wealth LLC Increases Stock Holdings in Suncor Energy Inc. (NYSE:SU)

Corient Private Wealth LLC raised its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 69.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 748,865 shares of the oil and gas producer’s stock after purchasing an additional 307,469 shares during the quarter. Corient Private Wealth LLC’s holdings in Suncor Energy were worth $26,720,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of SU. Sanctuary Advisors LLC boosted its stake in shares of Suncor Energy by 32.3% in the third quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer’s stock valued at $3,035,000 after buying an additional 20,081 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Suncor Energy by 86.0% in the fourth quarter. Jones Financial Companies Lllp now owns 67,848 shares of the oil and gas producer’s stock valued at $2,421,000 after buying an additional 31,366 shares in the last quarter. Sage Investment Counsel LLC purchased a new stake in shares of Suncor Energy in the fourth quarter valued at approximately $300,000. Intech Investment Management LLC boosted its stake in shares of Suncor Energy by 1,345.8% in the third quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer’s stock valued at $17,309,000 after buying an additional 436,016 shares in the last quarter. Finally, J.W. Cole Advisors Inc. purchased a new stake in shares of Suncor Energy in the fourth quarter valued at approximately $236,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SU has been the topic of a number of analyst reports. Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Cibc World Mkts upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Bank of America began coverage on Suncor Energy in a report on Wednesday, February 26th. They set a “neutral” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 price objective on shares of Suncor Energy in a report on Tuesday, January 7th. Finally, Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and a consensus target price of $58.00.

Suncor Energy Stock Performance

NYSE SU opened at $37.61 on Wednesday. Suncor Energy Inc. has a fifty-two week low of $33.81 and a fifty-two week high of $41.95. The stock has a market cap of $46.52 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11. The business has a fifty day moving average of $38.29 and a 200-day moving average of $38.18. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly 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 return on equity of 15.37% and a net margin of 11.80%. As a group, analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be paid a $0.399 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.60 annualized dividend and a yield of 4.24%. Suncor Energy’s payout ratio is currently 45.51%.

Suncor Energy Company Profile

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.