Nikko Asset Management Americas Inc. lifted its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 270,274 shares of the oil and gas producer’s stock after buying an additional 3,064 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Suncor Energy were worth $8,422,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of SU. Sanders Capital LLC grew its position in shares of Suncor Energy by 25.1% in the 1st quarter. Sanders Capital LLC now owns 24,516,616 shares of the oil and gas producer’s stock worth $834,328,000 after buying an additional 4,914,700 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in Suncor Energy in the 1st quarter worth approximately $170,379,000. Lazard Asset Management LLC boosted its stake in Suncor Energy by 328.2% in the 1st quarter. Lazard Asset Management LLC now owns 3,849,360 shares of the oil and gas producer’s stock worth $124,834,000 after purchasing an additional 2,950,451 shares in the last quarter. FIL Ltd boosted its stake in Suncor Energy by 4.4% in the 1st quarter. FIL Ltd now owns 44,367,061 shares of the oil and gas producer’s stock worth $1,437,901,000 after purchasing an additional 1,862,871 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in Suncor Energy by 14.7% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,822,600 shares of the oil and gas producer’s stock worth $448,113,000 after purchasing an additional 1,772,600 shares in the last quarter. 65.24% of the stock is currently owned by hedge funds and other institutional investors.
NYSE SU remained flat at $$28.62 on Friday. 2,443,445 shares of the company’s stock traded hands, compared to its average volume of 3,805,349. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.63 and a current ratio of 0.98. Suncor Energy Inc. has a twelve month low of $25.81 and a twelve month high of $42.16. The firm’s fifty day simple moving average is $30.65. The stock has a market cap of $44.04 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 1.54 and a beta of 1.08.
SU has been the subject of a number of recent analyst reports. GMP Securities reiterated a “hold” rating and issued a $48.00 target price on shares of Suncor Energy in a research note on Tuesday, May 7th. Zacks Investment Research upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Monday, May 13th. Raymond James reiterated a “buy” rating on shares of Suncor Energy in a research note on Thursday, May 2nd. BMO Capital Markets reiterated a “buy” rating on shares of Suncor Energy in a research note on Monday, June 24th. Finally, Mizuho reiterated an “average” rating and issued a $52.00 target price on shares of Suncor Energy in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $47.48.
Suncor Energy Profile
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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