Renaissance Technologies LLC increased its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 694.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 258,540 shares of the oil and gas producer’s stock after buying an additional 226,000 shares during the period. Renaissance Technologies LLC’s holdings in Suncor Energy were worth $7,945,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Morgan Stanley boosted its stake in Suncor Energy by 24.3% in the first quarter. Morgan Stanley now owns 2,639,888 shares of the oil and gas producer’s stock valued at $81,175,000 after buying an additional 515,416 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Suncor Energy by 8.9% in the first quarter. Lazard Asset Management LLC now owns 574,575 shares of the oil and gas producer’s stock valued at $17,668,000 after buying an additional 46,790 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Suncor Energy by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,659,226 shares of the oil and gas producer’s stock valued at $81,771,000 after buying an additional 93,044 shares in the last quarter. Vanguard Group Inc. boosted its stake in Suncor Energy by 4.2% in the first quarter. Vanguard Group Inc. now owns 38,530,806 shares of the oil and gas producer’s stock valued at $1,184,822,000 after buying an additional 1,549,342 shares in the last quarter. Finally, Foresters Investment Management Company Inc. boosted its stake in Suncor Energy by 3.8% in the first quarter. Foresters Investment Management Company Inc. now owns 687,437 shares of the oil and gas producer’s stock valued at $21,139,000 after buying an additional 25,100 shares in the last quarter. 65.19% of the stock is owned by institutional investors.
Suncor Energy Inc. (NYSE:SU) opened at 32.99 on Friday. The company has a market capitalization of $54.74 billion, a PE ratio of 25.71 and a beta of 0.82. Suncor Energy Inc. has a 52 week low of $25.70 and a 52 week high of $33.79. The firm’s 50-day moving average price is $29.88 and its 200 day moving average price is $30.87.
Suncor Energy declared that its board has approved a share repurchase plan 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 plans are usually a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Tuesday, September 5th will be given a $0.2552 dividend. The ex-dividend date is Thursday, August 31st. This is a positive change from Suncor Energy ‘s previous quarterly dividend of $0.24. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.09%. Suncor Energy ‘s dividend payout ratio is 77.87%.
ILLEGAL ACTIVITY WARNING: “Renaissance Technologies LLC Raises Stake in Suncor Energy Inc. (NYSE:SU)” was first reported by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this piece of content on another website, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be viewed at https://stocknewstimes.com/2017/08/05/renaissance-technologies-llc-acquires-226000-shares-of-suncor-energy-inc-nysesu-updated.html.
Several brokerages have commented on SU. Piper Jaffray Companies lowered their price objective on Suncor Energy from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, July 3rd. National Bank Financial started coverage on shares of Suncor Energy in a research report on Tuesday, June 27th. They set an “outperform” rating for the company. Scotiabank downgraded shares of Suncor Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, June 9th. Simmons decreased their target price on shares of Suncor Energy from $43.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, April 19th. Finally, AltaCorp Capital downgraded shares of Suncor Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, July 28th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Suncor Energy currently has a consensus rating of “Buy” and an average price target of $42.10.
About Suncor Energy
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.
Receive News & Ratings for Suncor Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Suncor Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
