Golden State Wealth Management LLC Invests $39,000 in Suncor Energy Inc. (NYSE:SU)

Golden State Wealth Management LLC acquired a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,094 shares of the oil and gas producer’s stock, valued at approximately $39,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC grew its holdings in shares of Suncor Energy by 32.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer’s stock valued at $3,035,000 after buying an additional 20,081 shares during the period. Intech Investment Management LLC grew its stake in Suncor Energy by 1,345.8% in the third quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer’s stock valued at $17,309,000 after acquiring an additional 436,016 shares during the period. Aigen Investment Management LP acquired a new position in Suncor Energy in the third quarter valued at about $1,376,000. Assenagon Asset Management S.A. increased its holdings in shares of Suncor Energy by 1,324.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock worth $123,774,000 after acquiring an additional 3,225,543 shares in the last quarter. Finally, DRW Securities LLC acquired a new stake in shares of Suncor Energy during the third quarter worth about $1,151,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SU shares. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday. Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a report on Tuesday, January 7th. Finally, Morgan Stanley lowered Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Suncor Energy currently has an average rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Trading Up 2.8 %

Suncor Energy stock opened at $40.65 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. The firm has a 50-day moving average of $37.64 and a 200-day moving average of $38.56. The company has a market cap of $50.59 billion, a price-to-earnings ratio of 11.78, a P/E/G ratio of 2.96 and a beta of 1.12. Suncor Energy Inc. has a one year low of $31.25 and a one year high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.33% and a net margin of 11.80%. On average, equities analysts expect that Suncor Energy Inc. will post 3.25 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.399 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a yield of 3.93%. Suncor Energy’s payout ratio is 46.67%.

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.