Assenagon Asset Management S.A. Acquires 3,951,287 Shares of Suncor Energy Inc. (NYSE:SU)

Assenagon Asset Management S.A. boosted its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 90.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,299,876 shares of the oil and gas producer’s stock after purchasing an additional 3,951,287 shares during the quarter. Suncor Energy comprises 0.7% of Assenagon Asset Management S.A.’s portfolio, making the stock its 18th biggest holding. Assenagon Asset Management S.A. owned 0.65% of Suncor Energy worth $316,226,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new stake in Suncor Energy in the 4th quarter worth approximately $400,000. Allspring Global Investments Holdings LLC increased its stake in Suncor Energy by 12.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 67,615 shares of the oil and gas producer’s stock worth $2,166,000 after acquiring an additional 7,367 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in Suncor Energy by 74.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 21,174 shares of the oil and gas producer’s stock worth $678,000 after acquiring an additional 9,068 shares during the last quarter. Cerity Partners LLC increased its stake in Suncor Energy by 114.0% in the 4th quarter. Cerity Partners LLC now owns 21,295 shares of the oil and gas producer’s stock worth $682,000 after acquiring an additional 11,344 shares during the last quarter. Finally, Beverly Hills Private Wealth LLC bought a new stake in Suncor Energy in the 4th quarter worth approximately $371,000. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Down 0.6 %

Shares of SU traded down $0.26 during trading hours on Friday, hitting $41.34. The company had a trading volume of 2,111,678 shares, compared to its average volume of 4,448,911. The company has a market capitalization of $52.98 billion, a PE ratio of 9.21, a price-to-earnings-growth ratio of 2.72 and a beta of 1.12. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. Suncor Energy Inc. has a one year low of $29.45 and a one year high of $41.81. The company’s fifty day moving average price is $38.36 and its two-hundred day moving average price is $37.32.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 EPS for the quarter, topping the consensus estimate of $0.76 by $0.51. The firm had revenue of $12.90 billion during the quarter, compared to analyst estimates of $9.30 billion. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.71 EPS. As a group, equities analysts forecast that Suncor Energy Inc. will post 3.64 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be given a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a yield of 3.82%. The ex-dividend date is Wednesday, September 4th. Suncor Energy’s dividend payout ratio is currently 34.97%.

Analyst Ratings Changes

SU has been the subject of a number of recent research reports. Wolfe Research initiated coverage on Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 target price for the company. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Scotiabank dropped their target price on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Finally, Raymond James upgraded Suncor Energy to a “hold” rating in a report on Tuesday, May 28th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.75.

Suncor Energy Company 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.