Geode Capital Management LLC Buys 1,737,573 Shares of Suncor Energy Inc. (NYSE:SU)

Geode Capital Management LLC lifted its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 29.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,629,169 shares of the oil and gas producer’s stock after acquiring an additional 1,737,573 shares during the quarter. Geode Capital Management LLC’s holdings in Suncor Energy were worth $278,537,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. HHM Wealth Advisors LLC grew its holdings in Suncor Energy by 62.1% during the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock worth $30,000 after acquiring an additional 325 shares during the period. Crowley Wealth Management Inc. acquired a new stake in shares of Suncor Energy during the fourth quarter worth $35,000. Lee Danner & Bass Inc. bought a new stake in Suncor Energy in the fourth quarter valued at about $36,000. Golden State Wealth Management LLC bought a new stake in Suncor Energy in the fourth quarter valued at about $39,000. Finally, Stonebridge Financial Group LLC acquired a new position in Suncor Energy in the fourth quarter valued at about $45,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Down 9.8 %

SU stock 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 stock has a market capitalization 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. Suncor Energy Inc. has a fifty-two week low of $32.78 and a fifty-two week high of $41.95. The business has a 50-day moving average of $37.94 and a 200-day moving average of $38.20.

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%. On average, sell-side analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were paid 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 payout ratio is currently 45.51%.

Analysts Set New Price Targets

SU has been the subject of a number of recent analyst reports. Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Cibc World Mkts upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Scotiabank upgraded shares of Suncor Energy to a “hold” rating in a research report on Wednesday, March 19th. Finally, Morgan Stanley lowered Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average 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.