VELA Investment Management LLC Acquires 13,301 Shares of Suncor Energy Inc. (NYSE:SU)

VELA Investment Management LLC boosted its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 25.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 64,629 shares of the oil and gas producer’s stock after purchasing an additional 13,301 shares during the quarter. VELA Investment Management LLC’s holdings in Suncor Energy were worth $2,386,000 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. Trust Co. of Vermont bought a new stake in Suncor Energy in the 2nd quarter worth approximately $26,000. Eastern Bank bought a new stake in Suncor Energy in the 3rd quarter worth approximately $25,000. Summit Securities Group LLC bought a new stake in Suncor Energy in the 2nd quarter worth approximately $27,000. Richardson Financial Services Inc. increased its stake in Suncor Energy by 82.8% in the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 328 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new stake in Suncor Energy in the 2nd quarter worth approximately $29,000. Institutional investors own 67.37% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on SU shares. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Wolfe Research assumed coverage on Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 target price for the company. StockNews.com cut Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, Scotiabank dropped their price objective on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $55.83.

Suncor Energy Stock Down 0.5 %

Suncor Energy stock traded down $0.18 during midday trading on Friday, reaching $37.59. The company’s stock had a trading volume of 2,994,754 shares, compared to its average volume of 2,659,714. The stock’s 50-day simple moving average is $38.54 and its 200-day simple moving average is $38.73. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93. Suncor Energy Inc. has a 52-week low of $29.45 and a 52-week high of $41.94. The stock has a market capitalization of $47.43 billion, a P/E ratio of 8.72, a PEG ratio of 2.68 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.51. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The company had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $9.30 billion. During the same period last year, the business posted $0.71 earnings per share. The firm’s revenue was up 10.1% compared to the same quarter last year. On average, sell-side analysts expect that Suncor Energy Inc. will post 3.53 EPS for the current year.

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were paid a $0.395 dividend. This represents a $1.58 annualized dividend and a dividend yield of 4.20%. The ex-dividend date was Wednesday, September 4th. Suncor Energy’s payout ratio is 37.59%.

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.