Driehaus Capital Management LLC Purchases 6,700 Shares of Suncor Energy Inc. (NYSE:SU)

Driehaus Capital Management LLC lifted its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 60.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,700 shares of the oil and gas producer’s stock after acquiring an additional 6,700 shares during the period. Driehaus Capital Management LLC’s holdings in Suncor Energy were worth $675,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in SU. BNP Paribas Financial Markets lifted its holdings in shares of Suncor Energy by 2,358.4% in the first quarter. BNP Paribas Financial Markets now owns 17,209 shares of the oil and gas producer’s stock worth $635,000 after acquiring an additional 16,509 shares during the last quarter. Empowered Funds LLC bought a new position in Suncor Energy in the 1st quarter valued at approximately $2,940,000. Assenagon Asset Management S.A. boosted its position in Suncor Energy by 90.9% in the second quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock valued at $316,226,000 after buying an additional 3,951,287 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Suncor Energy by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,529,253 shares of the oil and gas producer’s stock worth $683,916,000 after buying an additional 1,031,542 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of Suncor Energy by 56.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 55,636 shares of the oil and gas producer’s stock worth $2,054,000 after buying an additional 20,101 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Scotiabank lowered their target price on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Saturday. Wolfe Research initiated coverage on shares of Suncor Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price target for the company. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Finally, TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.83.

Suncor Energy Stock Performance

Shares of SU opened at $36.90 on Tuesday. The stock has a 50-day moving average of $38.72 and a 200-day moving average of $38.47. Suncor Energy Inc. has a one year low of $29.45 and a one year high of $41.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93. The company has a market cap of $47.29 billion, a PE ratio of 8.22, a P/E/G ratio of 2.57 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its 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. The company had revenue of $12.90 billion for the quarter, compared to analyst estimates of $9.30 billion. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.71 EPS. On average, equities research analysts predict that Suncor Energy Inc. will post 3.71 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were paid a $0.395 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.58 annualized dividend and a yield of 4.28%. Suncor Energy’s dividend payout ratio (DPR) is 35.86%.

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.