CIBC Asset Management Inc Buys 180,533 Shares of Suncor Energy Inc. (NYSE:SU)

CIBC Asset Management Inc boosted its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,942,455 shares of the oil and gas producer’s stock after acquiring an additional 180,533 shares during the period. Suncor Energy accounts for about 1.7% of CIBC Asset Management Inc’s investment portfolio, making the stock its 15th largest position. CIBC Asset Management Inc’s holdings in Suncor Energy were worth $516,728,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SU. Eastern Bank purchased a new position in Suncor Energy in the 3rd quarter worth approximately $25,000. Trust Co. of Vermont bought a new stake in Suncor Energy in the 2nd quarter valued at $26,000. Summit Securities Group LLC purchased a new stake in Suncor Energy in the 2nd quarter worth $27,000. Richardson Financial Services Inc. boosted its holdings in shares of Suncor Energy by 82.8% during the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 328 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of Suncor Energy during the second quarter valued at about $29,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on SU. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Wolfe Research started coverage on shares of Suncor Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $68.00 target price on the stock. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Suncor Energy presently has an average rating of “Moderate Buy” and an average price target of $56.40.

Suncor Energy Trading Up 2.1 %

SU opened at $40.44 on Friday. Suncor Energy Inc. has a one year low of $29.45 and a one year high of $41.94. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46. The stock has a market cap of $51.02 billion, a price-to-earnings ratio of 8.81, a P/E/G ratio of 2.81 and a beta of 1.12. The stock’s 50 day moving average price is $38.29 and its 200-day moving average price is $38.74.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be paid a $0.4089 dividend. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 4.05%. Suncor Energy’s dividend payout ratio (DPR) is presently 35.29%.

Suncor Energy Company 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.