First Personal Financial Services Boosts Position in Suncor Energy Inc. (SU)

First Personal Financial Services increased its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 144.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,845 shares of the oil and gas producer’s stock after buying an additional 2,270 shares during the period. First Personal Financial Services’ holdings in Suncor Energy were worth $112,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. FMR LLC boosted its position in shares of Suncor Energy by 3.4% in the first quarter. FMR LLC now owns 105,191,127 shares of the oil and gas producer’s stock worth $3,229,653,000 after buying an additional 3,492,013 shares during the last quarter. Wellington Management Group LLP boosted its position in Suncor Energy by 5.2% in the first quarter. Wellington Management Group LLP now owns 62,617,740 shares of the oil and gas producer’s stock worth $1,922,960,000 after buying an additional 3,103,397 shares during the last quarter. Vanguard Group Inc. boosted its position 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 worth $1,184,822,000 after buying an additional 1,549,342 shares during the last quarter. BlackRock Inc. boosted its position in Suncor Energy by 11,547,276.0% in the first quarter. BlackRock Inc. now owns 23,556,647 shares of the oil and gas producer’s stock worth $724,366,000 after buying an additional 23,556,443 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in Suncor Energy by 4.8% in the second quarter. CIBC Asset Management Inc now owns 15,871,361 shares of the oil and gas producer’s stock worth $463,195,000 after buying an additional 725,934 shares during the last quarter. Hedge funds and other institutional investors own 65.59% of the company’s stock.

Suncor Energy Inc. (NYSE:SU) opened at 31.42 on Monday. The stock has a 50 day moving average of $30.98 and a 200 day moving average of $30.93. Suncor Energy Inc. has a 52 week low of $25.70 and a 52 week high of $33.79. The company has a market cap of $52.14 billion, a P/E ratio of 24.68 and a beta of 0.82.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Tuesday, September 5th will be paid 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 dividend on an annualized basis and a yield of 3.25%. Suncor Energy ‘s dividend payout ratio (DPR) is 77.87%.

Suncor Energy announced that its board has approved a share repurchase program on Wednesday, April 26th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the oil and gas producer to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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SU has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Suncor Energy from a “sell” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Tuesday, July 4th. Citigroup Inc. restated a “buy” rating on shares of Suncor Energy in a research report on Wednesday, August 2nd. BidaskClub upgraded shares of Suncor Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. National Bank Financial initiated coverage on shares of Suncor Energy in a research report on Tuesday, June 27th. They issued an “outperform” rating on the stock. Finally, Barclays PLC restated an “overweight” rating and issued a $52.00 price objective (up previously from $47.00) on shares of Suncor Energy in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Suncor Energy presently has a consensus rating of “Buy” and a consensus target price of $42.86.

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.