The Vanguard Group, Inc. recently announced the acquisition of new stake in Suncor Energy, Inc. (NYSE:SU). The institutional investor has increased its shareholding in the Energy company by 1.01% to 32.62 million shares with purchase of 0.33 million shares. This fresh investment now brings its stake to 2.52% valued currently at $1.08 billion. In addition, Arrowstreet Capital LP raised its holdings by 26.12 million to 27.01 million shares. And BlackRock Institutional Trust Co has lifted its position by 0.17% or 40443.0 shares – to 23.38 million shares.
With over 4.12 million Suncor Energy, Inc. (SU) shares trading Tuesday and a closing price of $32.70 on the day, the dollar volume was approximately $134.7 million. The shares have shown a positive half year performance of 10.92% and its price on 01/09/24 lost nearly -1.12%. Currently, there are 1.34B common shares owned by the public and among those 1.29B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 20 analysts who have offered their price forecasts for SU have a consensus price objective of $52.93. The analysts have set the share’s price value over the next 12 months at a high of $74.00 and a low of $43.00. The average price target is 16.77% above its recent price level and an upside to the estimated low will see the stock gain 23.95% over that period. But an upside of 55.81% will see the stock hit the forecast high price target while median target price for the stock is $52.00.
The top 3 mutual fund holders in Suncor Energy, Inc. are Dodge & Cox International Stock F, Vanguard Total International Stoc, and Artisan International Value Fund. Dodge & Cox International Stock F owns 29.23 million shares of the company’s stock, all valued at over $964.26 million. Vanguard Total International Stoc bought 0.15 million shares to see its total holdings expand to 17.94 million shares valued at over $591.94 million and representing 1.39% of the shares outstanding. Artisan International Value Fund bought 0.16 million shares to bring its total holdings to over 15.73 million shares at a value of $518.95 million. Artisan International Value Fund now owns shares totaling to 1.22% of the shares outstanding.
However, the script later moved the day high at 33.15, down -1.12%. The company’s stock has a 5-day price change of 1.84% and -3.11% over the past three months. SU shares are trading 2.06% year to date (YTD), with the 12-month market performance up to 4.24% higher. It has a 12-month low price of $27.59 and touched a high of $35.51 over the same period. SU has an average intraday trading volume of 4.76 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.47%, 0.94%, and 3.66% respectively.
Institutional ownership of Suncor Energy, Inc. (NYSE: SU) shares accounts for 65.90% of the company’s 1.34B shares outstanding. Mutual fund holders own 26.97%, while other institutional holders and individual stakeholders account for 39.99% and — respectively.
It has a market capitalization of $42.35B and a beta (3y monthly) value of 1.14. The stock’s trailing 12-month PE ratio is 7.13, while the earnings-per-share (ttm) stands at $4.59. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.33% over the week and 1.87% over the month.
Analysts forecast that Suncor Energy, Inc. (SU) will achieve an EPS of $0.97 for the current quarter, $1.03 for the next quarter and $4.17 for 2024. The lowest estimate earnings-per-share for the quarter is $0.76 while analysts give the company a high EPS estimate of $1.07. Comparatively, EPS for the current quarter was $1.35 a year ago. Earnings per share for the fiscal year are expected to decrease by -39.16%, and -0.17% over the next financial year. EPS should shrink at an annualized rate of -8.04% over the next five years, compared to 19.44% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 20 brokerage firm advisors rate Suncor Energy, Inc. (SU) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 11 of the 20 advise that investors “hold,” and 0 rated it as a “Sell.”
