Oxbow Advisors LLC Makes New Investment in Suncor Energy Inc. (NYSE:SU)

Oxbow Advisors LLC acquired a new position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 95,399 shares of the oil and gas producer’s stock, valued at approximately $3,522,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Suncor Energy by 1.4% in the first quarter. Vanguard Group Inc. now owns 51,226,454 shares of the oil and gas producer’s stock valued at $1,890,768,000 after acquiring an additional 691,497 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Suncor Energy by 5.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock worth $956,850,000 after buying an additional 1,209,073 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Suncor Energy by 1.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 23,048,048 shares of the oil and gas producer’s stock worth $878,131,000 after buying an additional 366,432 shares during the last quarter. 1832 Asset Management L.P. increased its stake in shares of Suncor Energy by 4.1% during the first quarter. 1832 Asset Management L.P. now owns 22,157,546 shares of the oil and gas producer’s stock valued at $817,835,000 after buying an additional 868,475 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings 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 valued at $683,916,000 after acquiring an additional 1,031,542 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Down 1.1 %

NYSE:SU traded down $0.44 on Friday, reaching $39.16. 2,316,667 shares of the stock traded hands, compared to its average volume of 4,212,940. The company’s fifty day simple moving average is $38.34 and its 200 day simple moving average is $38.76. The company has a market capitalization of $49.41 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 2.78 and a beta of 1.12. Suncor Energy Inc. has a 12 month low of $29.45 and a 12 month high of $41.94. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.51. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The business had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $9.30 billion. During the same period in the prior year, the firm posted $0.71 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. Equities analysts predict that Suncor Energy Inc. will post 3.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on SU. Scotiabank decreased their price objective on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Wolfe Research assumed coverage on Suncor Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 target price for the company. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Finally, StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.83.

About Suncor Energy

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.