Ritholtz Wealth Management Grows Stock Position in Suncor Energy Inc. (NYSE:SU)

Ritholtz Wealth Management boosted its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,589 shares of the oil and gas producer’s stock after acquiring an additional 743 shares during the quarter. Ritholtz Wealth Management’s holdings in Suncor Energy were worth $2,774,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Arlington Trust Co LLC purchased a new position in shares of Suncor Energy during the 3rd quarter valued at approximately $29,000. Optiver Holding B.V. bought a new stake in Suncor Energy in the third quarter valued at $29,000. Sunbelt Securities Inc. bought a new stake in Suncor Energy in the first quarter valued at $31,000. Headinvest LLC bought a new stake in Suncor Energy in the third quarter valued at $40,000. Finally, Private Trust Co. NA raised its stake in shares of Suncor Energy by 38.4% during the third quarter. Private Trust Co. NA now owns 1,222 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 339 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analysts Set New Price Targets

Separately, Morgan Stanley lifted their price objective on shares of Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Suncor Energy currently has an average rating of “Moderate Buy” and a consensus price target of $52.00.

Suncor Energy Price Performance

Suncor Energy stock traded up $0.43 during midday trading on Thursday, hitting $36.91. The company’s stock had a trading volume of 2,371,032 shares, compared to its average volume of 4,318,097. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.26. The stock’s 50-day moving average price is $33.76 and its 200-day moving average price is $33.24. Suncor Energy Inc. has a 12 month low of $27.59 and a 12 month high of $36.97. The company has a market capitalization of $47.54 billion, a PE ratio of 7.85, a price-to-earnings-growth ratio of 3.39 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, topping the consensus estimate of $0.80 by $0.13. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. The firm had revenue of $10.39 billion for the quarter, compared to analysts’ expectations of $8.46 billion. During the same period in the previous year, the business earned $1.33 earnings per share. Analysts anticipate that Suncor Energy Inc. will post 3.58 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 4th were given a $0.406 dividend. The ex-dividend date was Friday, March 1st. This is a boost from Suncor Energy’s previous quarterly dividend of $0.39. This represents a $1.62 annualized dividend and a yield of 4.40%. Suncor Energy’s payout ratio is 34.26%.

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.