Charles Schwab Investment Management Inc. Increases Holdings in Suncor Energy Inc. (NYSE:SU)

Charles Schwab Investment Management Inc. raised its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,357,656 shares of the oil and gas producer’s stock after purchasing an additional 169,916 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Suncor Energy were worth $161,006,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Eastern Bank purchased a new position in shares of Suncor Energy in the third quarter valued at $25,000. Trust Co. of Vermont purchased a new position in Suncor Energy in the 2nd quarter valued at about $26,000. Summit Securities Group LLC acquired a new stake in shares of Suncor Energy during the second quarter valued at about $27,000. Richardson Financial Services Inc. increased its position in shares of Suncor Energy by 82.8% during the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 328 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of Suncor Energy in the second quarter worth about $29,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SU shares. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $56.40.

Suncor Energy Trading Up 1.0 %

Suncor Energy stock opened at $41.53 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. Suncor Energy Inc. has a 1 year low of $29.45 and a 1 year high of $41.94. The firm’s 50-day moving average is $38.86 and its 200-day moving average is $38.86. The company has a market cap of $52.25 billion, a P/E ratio of 9.05, a PEG ratio of 2.72 and a beta of 1.12.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.4089 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 3.94%. Suncor Energy’s dividend payout ratio is 35.29%.

Suncor Energy 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.