Commerzbank Aktiengesellschaft FI reduced its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 39.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,166 shares of the oil and gas producer’s stock after selling 58,565 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Suncor Energy were worth $2,816,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Perkins Coie Trust Co increased its stake in Suncor Energy by 24.4% during the second quarter. Perkins Coie Trust Co now owns 3,160 shares of the oil and gas producer’s stock worth $98,000 after acquiring an additional 620 shares during the last quarter. Regentatlantic Capital LLC grew its stake in shares of Suncor Energy by 46.3% during the second quarter. Regentatlantic Capital LLC now owns 12,432 shares of the oil and gas producer’s stock valued at $387,000 after buying an additional 3,935 shares during the last quarter. Waratah Capital Advisors Ltd. grew its stake in shares of Suncor Energy by 128.1% during the second quarter. Waratah Capital Advisors Ltd. now owns 136,221 shares of the oil and gas producer’s stock valued at $4,252,000 after buying an additional 76,505 shares during the last quarter. Riverhead Capital Management LLC grew its stake in shares of Suncor Energy by 21.1% during the second quarter. Riverhead Capital Management LLC now owns 10,292 shares of the oil and gas producer’s stock valued at $310,000 after buying an additional 1,792 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of Suncor Energy by 6.3% during the second quarter. Canada Pension Plan Investment Board now owns 137,898 shares of the oil and gas producer’s stock valued at $4,311,000 after buying an additional 8,200 shares during the last quarter. 64.07% of the stock is currently owned by institutional investors.
Shares of NYSE SU opened at $30.15 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.63 and a current ratio of 0.98. The firm has a market capitalization of $46.68 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 1.67 and a beta of 1.05. The stock has a 50 day moving average price of $30.39 and a 200 day moving average price of $30.93. Suncor Energy Inc. has a 52-week low of $25.81 and a 52-week high of $35.99.
Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Wednesday, July 24th. The oil and gas producer reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.09). The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $8.15 billion. Suncor Energy had a net margin of 14.55% and a return on equity of 10.20%. Analysts forecast that Suncor Energy Inc. will post 2.45 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were issued a $0.321 dividend. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.26%. Suncor Energy’s payout ratio is presently 63.00%.
A number of research analysts have recently commented on the company. National Bank Financial cut their target price on Suncor Energy from $49.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Friday. Citigroup cut their target price on Suncor Energy from $59.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. ValuEngine raised Suncor Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, August 27th. Royal Bank of Canada cut their target price on Suncor Energy from $50.00 to $47.00 in a research note on Friday. Finally, BMO Capital Markets reaffirmed a “buy” rating on shares of Suncor Energy in a research note on Monday, June 24th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $48.11.
Suncor Energy Company Profile
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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