PDT Partners LLC Takes Position in Suncor Energy Inc. (NYSE:SU)

PDT Partners LLC purchased a new position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 79,061 shares of the oil and gas producer’s stock, valued at approximately $2,919,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SU. Captrust Financial Advisors boosted its stake in shares of Suncor Energy by 8.1% during the 3rd quarter. Captrust Financial Advisors now owns 51,164 shares of the oil and gas producer’s stock valued at $1,889,000 after buying an additional 3,830 shares during the period. Hantz Financial Services Inc. raised its holdings in shares of Suncor Energy by 3.6% during the third quarter. Hantz Financial Services Inc. now owns 20,171 shares of the oil and gas producer’s stock worth $745,000 after acquiring an additional 692 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Suncor Energy by 35.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 867,786 shares of the oil and gas producer’s stock valued at $32,066,000 after purchasing an additional 227,988 shares during the last quarter. Glenmede Trust Co. NA grew its stake in Suncor Energy by 15.0% in the third quarter. Glenmede Trust Co. NA now owns 16,979 shares of the oil and gas producer’s stock valued at $627,000 after purchasing an additional 2,211 shares in the last quarter. Finally, Bridgewater Associates LP increased its position in Suncor Energy by 113.4% in the 3rd quarter. Bridgewater Associates LP now owns 983,633 shares of the oil and gas producer’s stock worth $36,347,000 after purchasing an additional 522,635 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Price Performance

Shares of Suncor Energy stock opened at $39.50 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. The firm has a fifty day simple moving average of $39.12 and a 200-day simple moving average of $38.86. The stock has a market capitalization of $49.69 billion, a price-to-earnings ratio of 8.60, a PEG ratio of 2.61 and a beta of 1.12. Suncor Energy Inc. has a 1-year low of $29.45 and a 1-year high of $41.94.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.4089 per share. This represents a $1.64 dividend on an annualized basis and a yield of 4.14%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, December 3rd. Suncor Energy’s dividend payout ratio is 35.29%.

Wall Street Analysts Forecast Growth

SU has been the subject of several recent research reports. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Finally, Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.40.

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.