Kassirer Asset Management Corp maintained its stake in shares of Suncor Energy Inc. (NYSE:SU) during the second quarter, Holdings Channel reports. The firm owned 9,464 shares of the company’s stock at the end of the second quarter. Kassirer Asset Management Corp’s holdings in Suncor Energy were worth $262,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Ropes Wealth Advisors LLC raised its stake in Suncor Energy by 15.6% in the first quarter. Ropes Wealth Advisors LLC now owns 6,088 shares of the company’s stock valued at $169,000 after buying an additional 820 shares during the period. IFP Advisors Inc increased its position in Suncor Energy by 29.2% in the first quarter. IFP Advisors Inc now owns 6,470 shares of the company’s stock valued at $180,000 after buying an additional 1,462 shares in the last quarter. Checchi Capital Advisers LLC increased its position in Suncor Energy by 5.8% in the second quarter. Checchi Capital Advisers LLC now owns 6,801 shares of the company’s stock valued at $189,000 after buying an additional 372 shares in the last quarter. Bessemer Group Inc. increased its position in Suncor Energy by 213.9% in the first quarter. Bessemer Group Inc. now owns 7,299 shares of the company’s stock valued at $203,000 after buying an additional 4,974 shares in the last quarter. Finally, Rehmann Capital Advisory Group bought a new position in Suncor Energy during the first quarter valued at approximately $221,000. 64.08% of the stock is currently owned by institutional investors and hedge funds.
Shares of Suncor Energy Inc. (NYSE:SU) traded up 0.29% during midday trading on Friday, reaching $27.78. 4,582,576 shares of the company’s stock were exchanged. The company’s market cap is $46.24 billion. Suncor Energy Inc. has a 12 month low of $18.71 and a 12 month high of $30.70. The firm has a 50 day moving average price of $27.28 and a 200 day moving average price of $27.37.
Suncor Energy (NYSE:SU) last released its earnings results on Wednesday, July 27th. The company reported ($0.36) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.21) by $0.15. Suncor Energy had a negative return on equity of 1.59% and a negative net margin of 11.29%. During the same period in the prior year, the firm earned $0.63 EPS. Equities research analysts forecast that Suncor Energy Inc. will post ($0.34) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 26th. Stockholders of record on Tuesday, September 6th were paid a dividend of $0.2194 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Thursday, September 1st. Suncor Energy’s payout ratio is -60.54%.
SU has been the topic of several research reports. TD Securities reiterated a “buy” rating and issued a $41.00 price objective on shares of Suncor Energy in a report on Thursday, July 28th. Zacks Investment Research upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Wednesday, July 13th. Vetr downgraded shares of Suncor Energy from a “strong-buy” rating to a “buy” rating and set a $31.93 price objective on the stock. in a report on Tuesday, June 7th. Citigroup Inc. upgraded shares of Suncor Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $40.00 to $44.00 in a report on Thursday, June 23rd. Finally, Bank of America Corp. initiated coverage on shares of Suncor Energy in a report on Friday, August 19th. They issued a “buy” rating and a $33.00 price objective on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Suncor Energy has an average rating of “Buy” and a consensus price target of $38.19.
Suncor Energy Company Profile
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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