Zurcher Kantonalbank Zurich Cantonalbank Has $24.38 Million Stake in Suncor Energy Inc. (NYSE:SU)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 12.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 639,798 shares of the oil and gas producer’s stock after acquiring an additional 70,863 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Suncor Energy were worth $24,384,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SU. Johnson Financial Group Inc. acquired a new stake in Suncor Energy in the 4th quarter valued at $25,000. Richardson Financial Services Inc. acquired a new position in shares of Suncor Energy during the 4th quarter worth about $25,000. Trust Co. of Vermont acquired a new position in shares of Suncor Energy during the 2nd quarter worth about $26,000. Summit Securities Group LLC acquired a new position in shares of Suncor Energy during the 2nd quarter worth about $27,000. Finally, Ridgewood Investments LLC acquired a new position in shares of Suncor Energy during the 2nd quarter worth about $29,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Price Performance

Shares of NYSE:SU traded down $0.64 during midday trading on Friday, hitting $40.33. The stock had a trading volume of 825,091 shares, compared to its average volume of 4,394,759. The company’s 50-day moving average price is $38.92 and its 200-day moving average price is $37.82. The company has a market capitalization of $51.24 billion, a P/E ratio of 9.08, a price-to-earnings-growth ratio of 2.86 and a beta of 1.12. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26. Suncor Energy Inc. has a fifty-two week low of $29.45 and a fifty-two week high of $41.94.

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, topping analysts’ consensus estimates of $0.76 by $0.51. The business had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $9.30 billion. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 EPS. As a group, equities research analysts predict that Suncor Energy Inc. will post 3.64 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be given a $0.395 dividend. This represents a $1.58 annualized dividend and a yield of 3.92%. The ex-dividend date is Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 35.63%.

Analyst Ratings Changes

Several research analysts have recently weighed in on SU shares. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Scotiabank reduced their target price 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. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, 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 target price for the company. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average price target of $54.86.

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.