Letko Brosseau Associates Inc buys $383.2 Million stake in Suncor Energy (USA) (SU)

Suncor Energy (USA) (SU) : Letko Brosseau Associates Inc scooped up 97,567 additional shares in Suncor Energy (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 14,536,338 shares of Suncor Energy (USA) which is valued at $383.2 Million.Suncor Energy (USA) makes up approximately 3.77% of Letko Brosseau Associates Inc’s portfolio.

Other Hedge Funds, Including ,

Suncor Energy (USA) opened for trading at $26.94 and hit $27.22 on the upside on Monday, eventually ending the session at $27.13, with a gain of 2.92% or 0.77 points. The heightened volatility saw the trading volume jump to 50,33,951 shares. Company has a market cap of $42,922 M.

On the company’s financial health, Suncor Energy (USA) reported $-0.02 EPS for the quarter, missing the analyst consensus estimate by $ -0.15 based on the information available during the earnings call on Feb 3, 2016. Analyst had a consensus of $0.13.Analysts expectations of $ 7885.07.During the same quarter in the previous year, the company posted $0.27 EPS.

Investors should note that on Apr 27, 2016, Suncor Energy (USA) announced a cash dividend of $0.2900. The company’s management has announced Jun 1, 2016 as the ex-dividend date and fixed the record date on Jun 3, 2016. The payable date has been fixed on Jun 24, 2016.

Many Wall Street Analysts have commented on Suncor Energy (USA). Suncor Energy (USA) was Downgraded by Citigroup to ” Neutral” on Apr 20, 2016. Suncor Energy (USA) was Resumed by JP Morgan to “Neutral” on Mar 22, 2016. Suncor Energy (USA) was Upgraded by Citigroup to ” Buy” on Feb 12, 2016.

Suncor Energy Inc. (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin Athabasca oil sands. The Company operates in three business segments: Oil Sands Exploration and Production and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations. Its Exploration and Production segment consists of offshore operations off the east coast of Canada and in the North Sea and onshore assets in North America Libya and Syria. The Company’s Refining and Marketing segment is engaged in Refining and Supply and Downstream Marketing. In addition the Company explores for acquires develops produces and markets crude oil and natural gas in Canada and internationally. The Company also transports and refines crude oil and markets petroleum and petrochemical products primarily in Canada.

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