Prospector Partners LLC Raises Position in Suncor Energy Inc. (NYSE:SU)

Prospector Partners LLC raised its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 36.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 197,725 shares of the oil and gas producer’s stock after purchasing an additional 52,300 shares during the period. Prospector Partners LLC’s holdings in Suncor Energy were worth $7,055,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SU. HHM Wealth Advisors LLC lifted its stake in shares of Suncor Energy by 62.1% in the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock worth $30,000 after buying an additional 325 shares in the last quarter. Crowley Wealth Management Inc. acquired a new position in shares of Suncor Energy during the 4th quarter worth approximately $35,000. Lee Danner & Bass Inc. purchased a new stake in shares of Suncor Energy in the fourth quarter valued at approximately $36,000. Golden State Wealth Management LLC acquired a new stake in shares of Suncor Energy in the fourth quarter valued at approximately $39,000. Finally, Stonebridge Financial Group LLC purchased a new position in Suncor Energy during the fourth quarter worth approximately $45,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Performance

NYSE SU opened at $33.19 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86. The company has a market cap of $41.06 billion, a P/E ratio of 9.62, a P/E/G ratio of 2.94 and a beta of 1.11. The stock has a 50-day moving average of $37.94 and a two-hundred day moving average of $38.20. Suncor Energy Inc. has a 1-year low of $32.78 and a 1-year high of $41.95.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. As a group, analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were given a $0.399 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend was Tuesday, March 4th. Suncor Energy’s dividend payout ratio is currently 45.51%.

Wall Street Analyst Weigh In

SU has been the subject of a number of recent research reports. Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Bank of America assumed coverage on Suncor Energy in a research note on Wednesday, February 26th. They set a “neutral” rating for the company. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, April 1st. Finally, Morgan Stanley cut shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.20.

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.