R Squared Ltd Makes New Investment in Suncor Energy Inc. (NYSE:SU)

R Squared Ltd purchased a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 9,300 shares of the oil and gas producer’s stock, valued at approximately $332,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. lifted its position in Suncor Energy by 87.5% in the 4th quarter. Blue Trust Inc. now owns 9,599 shares of the oil and gas producer’s stock valued at $354,000 after acquiring an additional 4,479 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd lifted its holdings in shares of Suncor Energy by 8.6% during the fourth quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 26,939 shares of the oil and gas producer’s stock valued at $961,000 after purchasing an additional 2,124 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Suncor Energy during the fourth quarter valued at $264,000. Mitchell & Pahl Private Wealth LLC raised its position in Suncor Energy by 7.1% in the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 24,090 shares of the oil and gas producer’s stock worth $860,000 after buying an additional 1,587 shares during the last quarter. Finally, UMB Bank n.a. raised its position in Suncor Energy by 27.5% in the 4th quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer’s stock worth $50,000 after buying an additional 300 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 price objective on shares of Suncor Energy in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Suncor Energy Stock Performance

NYSE:SU opened at $38.24 on Wednesday. The stock has a 50-day simple moving average of $38.01 and a two-hundred day simple moving average of $38.56. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. Suncor Energy Inc. has a 52-week low of $31.25 and a 52-week high of $41.94. The firm has a market capitalization of $47.60 billion, a PE ratio of 8.33, a P/E/G ratio of 3.29 and a beta of 1.12.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd were paid a dividend of $0.4089 per share. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date was Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 4.28%. Suncor Energy’s dividend payout ratio (DPR) is presently 35.08%.

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.