Published on 9 Dec 2021 on Insider Monkey via Yahoo Finance
Is Suncor Energy Inc. (SU) A Good Stock To Buy?
Hedge funds and large money managers usually invest with a focus on the long-term horizon and, therefore, short-lived dips or bumps on the charts usually don't make them change their opinion towards a company. This time it may be different. The coronavirus pandemic destroyed the high correlations among major industries and asset classes. We are now in a stock pickers market where fundamentals of a stock have more effect on the price than the overall direction of the market. As a result we observe sudden and large changes in hedge fund positions depending on the news flow. Let’s take a look at the hedge fund sentiment towards Suncor Energy Inc. (NYSE:SU) to find out whether there were any major changes in hedge funds' views.
Is SU a good stock to buy? Suncor Energy Inc. (NYSE:SU) shares haven't seen a lot of action during the third quarter. Overall, hedge fund sentiment was unchanged. The stock was in 32 hedge funds' portfolios at the end of the third quarter of 2021. Our calculations also showed that SU isn't among the 30 most popular stocks among hedge funds (click for Q3 rankings). At the end of this article we will also compare SU to other stocks including Arthur J. Gallagher & Co. (NYSE:AJG), American Water Works Company, Inc. (NYSE:AWK), and Nokia Corporation (NYSE:NOK) to get a better sense of its popularity.
