Keystone Wealth Services LLC Acquires Shares of 6,418 Suncor Energy Inc. (NYSE:SU)

Keystone Wealth Services LLC bought a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the second quarter, HoldingsChannel.com reports. The fund bought 6,418 shares of the oil and gas producer’s stock, valued at approximately $245,000.

Several other institutional investors and hedge funds have also made changes to their positions in SU. Toronto Dominion Bank increased its holdings in Suncor Energy by 59.7% during the 1st quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock worth $649,872,000 after purchasing an additional 6,580,260 shares during the period. TD Asset Management Inc increased its stake in shares of Suncor Energy by 16.8% during the fourth quarter. TD Asset Management Inc now owns 32,070,496 shares of the oil and gas producer’s stock valued at $1,032,453,000 after buying an additional 4,612,764 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Suncor Energy by 669.2% in the first quarter. Assenagon Asset Management S.A. now owns 4,348,589 shares of the oil and gas producer’s stock valued at $160,507,000 after acquiring an additional 3,783,250 shares in the last quarter. AGF Management Ltd. lifted its stake in Suncor Energy by 454.9% in the fourth quarter. AGF Management Ltd. now owns 3,586,421 shares of the oil and gas producer’s stock worth $114,909,000 after acquiring an additional 2,940,103 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in Suncor Energy by 8.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 22,384,816 shares of the oil and gas producer’s stock worth $717,210,000 after acquiring an additional 1,725,969 shares during the period. 67.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on SU. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday. Scotiabank cut their price target on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Raymond James raised Suncor Energy to a “hold” rating in a research 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $54.75.

Suncor Energy Stock Down 0.3 %

SU stock traded down $0.12 on Friday, hitting $39.67. 4,024,951 shares of the company’s stock were exchanged, compared to its average volume of 4,484,905. The firm has a 50 day moving average price of $38.06 and a two-hundred day moving average price of $37.05. Suncor Energy Inc. has a 12-month low of $29.45 and a 12-month high of $41.50. The stock has a market cap of $50.84 billion, a P/E ratio of 8.84, a price-to-earnings-growth ratio of 3.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 1.51.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.51. Suncor Energy had a return on equity of 16.28% and a net margin of 14.40%. The business had revenue of $12.90 billion for the quarter, compared to analyst estimates of $9.30 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. As a group, equities research analysts expect that Suncor Energy Inc. will post 3.67 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is 34.97%.

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.