43,124 Shares in Suncor Energy Inc. (NYSE:SU) Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. bought a new stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 43,124 shares of the oil and gas producer’s stock, valued at approximately $1,258,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CENTRAL TRUST Co boosted its position in shares of Suncor Energy by 90.8% in the first quarter. CENTRAL TRUST Co now owns 3,641 shares of the oil and gas producer’s stock valued at $112,000 after buying an additional 1,733 shares during the last quarter. Howe & Rusling Inc. boosted its stake in shares of Suncor Energy by 19.3% in the first quarter. Howe & Rusling Inc. now owns 4,143 shares of the oil and gas producer’s stock worth $127,000 after buying an additional 670 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its stake in shares of Suncor Energy by 1.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 4,061 shares of the oil and gas producer’s stock worth $128,000 after buying an additional 42 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Suncor Energy by 6.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,224 shares of the oil and gas producer’s stock worth $130,000 after buying an additional 238 shares in the last quarter. Finally, UBS Asset Management Americas Inc. acquired a new stake in shares of Suncor Energy during the fourth quarter worth $152,000. Institutional investors and hedge funds own 65.22% of the company’s stock.

Suncor Energy Inc. (NYSE SU) traded up 2.53% during trading on Friday, reaching $32.46. 4,852,286 shares of the company’s stock traded hands. The stock has a market capitalization of $53.86 billion, a P/E ratio of 25.30 and a beta of 0.80. The company has a 50-day moving average of $29.78 and a 200 day moving average of $30.89. Suncor Energy Inc. has a 12 month low of $25.70 and a 12 month high of $33.79.

Suncor Energy announced that its Board of Directors has approved a stock repurchase program on Wednesday, April 26th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the oil and gas producer to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Tuesday, September 5th will be given a $0.2552 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This is a boost from Suncor Energy ‘s previous quarterly dividend of $0.24. This represents a $1.02 annualized dividend and a yield of 3.14%. Suncor Energy ‘s payout ratio is 77.87%.

A number of analysts recently weighed in on SU shares. Zacks Investment Research cut shares of Suncor Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. BidaskClub upgraded shares of Suncor Energy from a “strong sell” rating to a “sell” rating in a research note on Monday, July 24th. Barclays PLC restated an “overweight” rating and issued a $52.00 target price (up previously from $47.00) on shares of Suncor Energy in a research note on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) upgraded shares of Suncor Energy from a “buy” rating to a “conviction-buy” rating and raised their target price for the stock from $25.00 to $34.00 in a research note on Wednesday, April 5th. They noted that the move was a valuation call. Finally, AltaCorp Capital cut shares of Suncor Energy from an “outperform” rating to a “sector perform” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $42.10.

Suncor Energy Company Profile

Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.