Suncor Energy Inc. (NYSE:SU) Shares Purchased by Independence Bank of Kentucky

Independence Bank of Kentucky raised its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 6.7% in the first quarter, HoldingsChannel reports. The fund owned 5,050 shares of the oil and gas producer’s stock after purchasing an additional 315 shares during the period. Independence Bank of Kentucky’s holdings in Suncor Energy were worth $186,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Kathmere Capital Management LLC acquired a new position in Suncor Energy in the first quarter valued at approximately $230,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Suncor Energy by 6.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 83,731 shares of the oil and gas producer’s stock valued at $3,091,000 after buying an additional 5,082 shares in the last quarter. ARGA Investment Management LP increased its position in shares of Suncor Energy by 3.2% in the first quarter. ARGA Investment Management LP now owns 1,484,872 shares of the oil and gas producer’s stock valued at $54,803,000 after buying an additional 46,133 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Suncor Energy in the first quarter valued at approximately $94,000. Finally, Miller Howard Investments Inc. NY increased its position in shares of Suncor Energy by 0.8% in the first quarter. Miller Howard Investments Inc. NY now owns 258,854 shares of the oil and gas producer’s stock valued at $9,554,000 after buying an additional 2,102 shares in the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SU. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, June 24th. The Goldman Sachs Group boosted their price target on Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. TD Securities boosted their price target on Suncor Energy from $52.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, May 22nd. Morgan Stanley boosted their price target on Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, Raymond James upgraded Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Suncor Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.67.

Suncor Energy Trading Up 0.2 %

NYSE:SU traded up $0.09 during trading hours on Friday, hitting $38.10. The company had a trading volume of 3,880,495 shares, compared to its average volume of 6,229,595. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average of $38.76 and a 200 day moving average of $35.70. The company has a market cap of $48.83 billion, a P/E ratio of 8.49, a P/E/G ratio of 3.60 and a beta of 1.11. Suncor Energy Inc. has a 1 year low of $28.26 and a 1 year high of $41.50.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 EPS for the quarter, beating the consensus estimate of $0.90 by $0.15. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $8.64 billion. Sell-side analysts expect that Suncor Energy Inc. will post 3.52 earnings per share for the current year.

Suncor Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th were paid a $0.395 dividend. This represents a $1.58 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend was Tuesday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 35.19%.

About Suncor Energy

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.