Suncor Energy Inc. (NYSE:SU) Shares Bought by Synovus Financial Corp

Synovus Financial Corp increased its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 11.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,371 shares of the oil and gas producer’s stock after purchasing an additional 8,519 shares during the quarter. Synovus Financial Corp’s holdings in Suncor Energy were worth $3,004,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Eastern Bank bought a new stake in Suncor Energy in the third quarter worth about $25,000. Summit Securities Group LLC acquired a new stake in Suncor Energy during the second quarter valued at approximately $27,000. Richardson Financial Services Inc. boosted its holdings in 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 buying an additional 328 shares in the last quarter. Ridgewood Investments LLC acquired a new position in Suncor Energy in the second quarter worth approximately $29,000. Finally, ORG Partners LLC bought a new position in shares of Suncor Energy in the second quarter valued at $43,000. Institutional investors own 67.37% of the company’s stock.

Analysts Set New Price Targets

SU has been the subject of several analyst reports. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.40.

Suncor Energy Price Performance

SU opened at $36.78 on Friday. The stock has a fifty day moving average price of $39.16 and a 200 day moving average price of $38.72. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. Suncor Energy Inc. has a 1 year low of $30.89 and a 1 year high of $41.94. The stock has a market cap of $46.28 billion, a price-to-earnings ratio of 8.01, a PEG ratio of 2.52 and a beta of 1.11.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.4089 per share. This represents a $1.64 annualized dividend and a yield of 4.45%. The ex-dividend date is Tuesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio (DPR) is presently 36.82%.

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.