Deutsche Bank AG Buys New Shares in Suncor Energy Inc. $SU

by · The Markets Daily

Deutsche Bank AG purchased a new stake in shares of Suncor Energy Inc. (NYSE:SU – Free Report) (TSE:SU) during the second quarter, Holdings Channel reports. The fund purchased 3,080,863 shares of the oil and gas producer’s stock, valued at approximately $165,381,000.

A number of other large investors have also recently bought and sold shares of the business. Beverly Hills Private Wealth LLC acquired a new stake in Suncor Energy during the 2nd quarter worth about $3,101,000. Avise Financial Cooperative Inc. acquired a new position in shares of Suncor Energy in the 2nd quarter valued at about $375,000. Cura Wealth Advisors LLC bought a new stake in shares of Suncor Energy during the 2nd quarter valued at about $344,000. Old West Investment Management LLC bought a new stake in shares of Suncor Energy during the 2nd quarter valued at about $22,454,000. Finally, Flputnam Investment Management Co. bought a new stake in shares of Suncor Energy during the 2nd quarter valued at about $11,610,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SU. Wall Street Zen downgraded Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Zacks Research lowered Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 29th. Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Finally, Morgan Stanley set a $106.00 price objective on shares of Suncor Energy in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $80.25.

Read Our Latest Research Report on Suncor Energy

Suncor Energy Stock Performance

Shares of SU stock opened at $67.54 on Thursday. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. The firm has a fifty day simple moving average of $60.75 and a two-hundred day simple moving average of $61.45. Suncor Energy Inc. has a 12 month low of $37.76 and a 12 month high of $70.29. The firm has a market capitalization of $79.75 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 0.49 and a beta of 0.30.

Suncor Energy (NYSE:SU – Get Free Report) (TSE:SU) last released its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.19. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. The firm had revenue of $13.41 billion for the quarter, compared to analyst estimates of $11.68 billion. During the same period last year, the firm earned $0.71 earnings per share. Analysts forecast that Suncor Energy Inc. will post 7.39 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, September 4th. Suncor Energy’s dividend payout ratio is currently 32.04%.

Suncor Energy Company Profile

(Free Report)

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.

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