Synovus Financial Corp Has $3 Million Stake in Suncor Energy Inc. (NYSE:SU)

Synovus Financial Corp increased its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 11.7% in the 3rd quarter, Holdings Channel reports. The firm owned 81,371 shares of the oil and gas producer’s stock after purchasing an additional 8,519 shares during the period. Synovus Financial Corp’s holdings in Suncor Energy were worth $3,004,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC lifted its position in shares of Suncor Energy by 1,345.8% during the 3rd quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer’s stock worth $17,309,000 after purchasing an additional 436,016 shares during the last quarter. Aigen Investment Management LP bought a new position in Suncor Energy in the 3rd quarter worth approximately $1,376,000. DRW Securities LLC acquired a new position in shares of Suncor Energy during the third quarter worth approximately $1,151,000. Mediolanum International Funds Ltd boosted its position in shares of Suncor Energy by 22.5% in the third quarter. Mediolanum International Funds Ltd now owns 250,849 shares of the oil and gas producer’s stock valued at $9,245,000 after acquiring an additional 46,155 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Suncor Energy in the second quarter worth $2,448,000. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Down 1.1 %

Shares of NYSE:SU opened at $36.78 on Friday. The company has a market capitalization of $46.28 billion, a PE ratio of 8.01, a P/E/G ratio of 2.52 and a beta of 1.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. The company’s fifty day moving average is $39.16 and its 200-day moving average is $38.72. Suncor Energy Inc. has a 52 week low of $30.89 and a 52 week high of $41.94.

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 issued a $0.4089 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend is Tuesday, December 3rd. Suncor Energy’s payout ratio is presently 36.82%.

Analysts Set New Price Targets

Several equities analysts recently commented on SU shares. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average 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.