Lyrical Asset Management LP Buys 40,133 Shares of Suncor Energy Inc. (NYSE:SU)

Lyrical Asset Management LP increased its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,328,038 shares of the oil and gas producer’s stock after purchasing an additional 40,133 shares during the quarter. Suncor Energy comprises 2.8% of Lyrical Asset Management LP’s holdings, making the stock its 16th biggest position. Lyrical Asset Management LP’s holdings in Suncor Energy were worth $190,104,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SU. Ruggaard & Associates LLC grew its holdings in shares of Suncor Energy by 21.8% during the 4th quarter. Ruggaard & Associates LLC now owns 10,630 shares of the oil and gas producer’s stock worth $379,000 after purchasing an additional 1,900 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC bought a new position in Suncor Energy in the fourth quarter worth $5,140,000. Dynamic Technology Lab Private Ltd boosted its stake in Suncor Energy by 16.2% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 42,168 shares of the oil and gas producer’s stock worth $1,505,000 after buying an additional 5,884 shares in the last quarter. ExodusPoint Capital Management LP increased its holdings in Suncor Energy by 1,037.7% in the 4th quarter. ExodusPoint Capital Management LP now owns 282,900 shares of the oil and gas producer’s stock valued at $10,094,000 after buying an additional 258,033 shares during the period. Finally, World Investment Advisors raised its stake in shares of Suncor Energy by 55.4% in the 4th quarter. World Investment Advisors now owns 24,310 shares of the oil and gas producer’s stock valued at $867,000 after buying an additional 8,669 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Scotiabank upgraded shares of Suncor Energy to a “hold” rating in a research note on Wednesday, March 19th. Bank of America started coverage on shares of Suncor Energy in a report on Wednesday, February 26th. They set a “neutral” rating for the company. Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Finally, Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.20.

Suncor Energy Price Performance

Suncor Energy stock opened at $33.19 on Friday. The business’s 50-day simple moving average is $37.94 and its 200 day simple moving average is $38.20. Suncor Energy Inc. has a 12-month low of $32.78 and a 12-month high of $41.95. The stock has a market cap of $41.06 billion, a price-to-earnings ratio of 9.62, a P/E/G ratio of 2.94 and a beta of 1.11. 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 announced its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS 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, research analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were issued a $0.399 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.60 annualized dividend and a yield of 4.81%. Suncor Energy’s dividend payout ratio (DPR) is presently 45.51%.

Suncor Energy 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.