Wahed Invest LLC Buys 3,711 Shares of Suncor Energy Inc. (NYSE:SU)

Wahed Invest LLC boosted its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 35.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 14,142 shares of the oil and gas producer’s stock after purchasing an additional 3,711 shares during the period. Wahed Invest LLC’s holdings in Suncor Energy were worth $522,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. bought a new position in Suncor Energy during the fourth quarter worth about $25,000. Richardson Financial Services Inc. purchased a new stake in shares of Suncor Energy in the fourth quarter worth about $25,000. Adirondack Trust Co. lifted its holdings in shares of Suncor Energy by 45.6% in the fourth quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 313 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Suncor Energy by 43.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 313 shares in the last quarter. Finally, V Square Quantitative Management LLC purchased a new stake in shares of Suncor Energy in the fourth quarter worth about $38,000. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of SU stock traded down $1.80 during trading hours on Friday, hitting $36.74. 6,233,273 shares of the company’s stock were exchanged, compared to its average volume of 4,464,036. The company has a market capitalization of $46.88 billion, a PE ratio of 8.58, a PEG ratio of 3.63 and a beta of 1.12. Suncor Energy Inc. has a 12-month low of $29.45 and a 12-month high of $41.50. The business’s 50 day simple moving average is $38.33 and its 200-day simple moving average is $36.75. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 EPS for the quarter, topping the consensus estimate of $0.90 by $0.15. The firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $8.64 billion. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. On average, equities research analysts anticipate that Suncor Energy Inc. will post 3.67 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. Shareholders of record on Tuesday, June 4th were paid a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 4.30%. The ex-dividend date was Tuesday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 35.63%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. TD Securities increased their price target on shares of Suncor Energy from $52.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, May 22nd. StockNews.com downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 20th. Raymond James raised shares of Suncor Energy to a “hold” rating in a report on Tuesday, May 28th. Wolfe Research initiated coverage on shares of Suncor Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $68.00 target price on the stock. Finally, The Goldman Sachs Group raised their target price on shares of Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.75.

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.