Simmons Bank Acquires 3,547 Shares of Suncor Energy Inc. (NYSE:SU)

Simmons Bank increased its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 9.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 42,613 shares of the oil and gas producer’s stock after purchasing an additional 3,547 shares during the quarter. Simmons Bank’s holdings in Suncor Energy were worth $1,573,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SU. Aigen Investment Management LP acquired a new position in Suncor Energy during the 3rd quarter worth approximately $1,376,000. Ashton Thomas Private Wealth LLC increased its holdings in shares of Suncor Energy by 2.0% during the third quarter. Ashton Thomas Private Wealth LLC now owns 53,128 shares of the oil and gas producer’s stock valued at $1,961,000 after acquiring an additional 1,052 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of Suncor Energy during the third quarter worth approximately $2,477,000. Tacita Capital Inc lifted its holdings in shares of Suncor Energy by 31.2% in the 3rd quarter. Tacita Capital Inc now owns 6,532 shares of the oil and gas producer’s stock worth $241,000 after purchasing an additional 1,554 shares in the last quarter. Finally, Versor Investments LP grew its position in Suncor Energy by 55.1% in the 3rd quarter. Versor Investments LP now owns 35,200 shares of the oil and gas producer’s stock valued at $1,299,000 after purchasing an additional 12,500 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Up 3.9 %

Suncor Energy stock opened at $39.61 on Thursday. Suncor Energy Inc. has a fifty-two week low of $29.45 and a fifty-two week high of $41.94. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46. The firm’s 50-day simple moving average is $38.27 and its 200 day simple moving average is $38.74. The stock has a market cap of $49.98 billion, a PE ratio of 8.63, a price-to-earnings-growth ratio of 2.70 and a beta of 1.12.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be paid a $0.4089 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend is Tuesday, December 3rd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s payout ratio is presently 35.29%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SU shares. 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 objective on the stock. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Finally, TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average price target of $56.40.

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.