CIBC Asset Management Inc Purchases 180,533 Shares of Suncor Energy Inc. (NYSE:SU)

CIBC Asset Management Inc grew its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,942,455 shares of the oil and gas producer’s stock after buying an additional 180,533 shares during the period. Suncor Energy accounts for approximately 1.7% of CIBC Asset Management Inc’s holdings, making the stock its 15th biggest position. CIBC Asset Management Inc owned 1.10% of Suncor Energy worth $516,728,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SU. OneDigital Investment Advisors LLC grew its stake in shares of Suncor Energy by 137.6% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 27,611 shares of the oil and gas producer’s stock worth $1,019,000 after buying an additional 15,991 shares during the last quarter. Metis Global Partners LLC grew its stake in shares of Suncor Energy by 4.6% in the third quarter. Metis Global Partners LLC now owns 76,110 shares of the oil and gas producer’s stock worth $2,809,000 after acquiring an additional 3,350 shares during the last quarter. Zions Bancorporation N.A. increased its holdings in shares of Suncor Energy by 67.6% during the third quarter. Zions Bancorporation N.A. now owns 23,761 shares of the oil and gas producer’s stock valued at $877,000 after acquiring an additional 9,582 shares in the last quarter. D Orazio & Associates Inc. purchased a new position in shares of Suncor Energy in the 3rd quarter worth about $202,000. Finally, Simmons Bank boosted its stake in Suncor Energy by 9.1% in the 3rd quarter. Simmons Bank now owns 42,613 shares of the oil and gas producer’s stock worth $1,573,000 after purchasing an additional 3,547 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wolfe Research started coverage on shares of Suncor Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $68.00 target price on the stock. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Finally, Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.40.

Suncor Energy Trading Up 2.1 %

Suncor Energy stock opened at $40.44 on Friday. The business has a 50-day simple moving average of $38.29 and a two-hundred day simple moving average of $38.74. Suncor Energy Inc. has a 52-week low of $29.45 and a 52-week high of $41.94. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26. The company has a market cap of $51.02 billion, a P/E ratio of 8.81, a P/E/G ratio of 2.81 and a beta of 1.12.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.4089 per share. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.05%. Suncor Energy’s payout ratio is presently 35.29%.

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.