Aigen Investment Management LP cut its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 78.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,722 shares of the oil and gas producer’s stock after selling 108,591 shares during the quarter. Aigen Investment Management LP’s holdings in Suncor Energy were worth $621,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC boosted its position in Suncor Energy by 165.7% during the 1st quarter. International Assets Investment Management LLC now owns 1,435 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 895 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Suncor Energy by 446.6% during the 4th quarter. Parallel Advisors LLC now owns 2,088 shares of the oil and gas producer’s stock valued at $35,000 after buying an additional 1,706 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of Suncor Energy by 36.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,299 shares of the oil and gas producer’s stock valued at $39,000 after buying an additional 609 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Suncor Energy during the 1st quarter valued at about $63,000. Finally, First Bank & Trust lifted its holdings in shares of Suncor Energy by 18.2% during the 1st quarter. First Bank & Trust now owns 3,392 shares of the oil and gas producer’s stock valued at $71,000 after buying an additional 523 shares during the last quarter. Hedge funds and other institutional investors own 65.33% of the company’s stock.
Shares of NYSE SU opened at $24.94 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.66 and a debt-to-equity ratio of 0.42. The stock has a 50 day simple moving average of $22.50. The company has a market cap of $37.55 billion, a P/E ratio of 498.80, a P/E/G ratio of 4.81 and a beta of 1.70. Suncor Energy Inc. has a 12 month low of $10.67 and a 12 month high of $25.69.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 25th. Shareholders of record on Friday, June 4th will be given a $0.1707 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Thursday, June 3rd. Suncor Energy’s payout ratio is currently -29.09%.
Several equities research analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on Suncor Energy from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, May 5th. Scotiabank lifted their price target on Suncor Energy from $30.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, April 15th. Tudor Pickering reiterated a “buy” rating and set a C$28.00 price target on shares of Suncor Energy in a report on Friday, May 28th. Finally, CIBC boosted their target price on Suncor Energy from $34.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, March 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. Suncor Energy has an average rating of “Buy” and an average price target of $29.83.
Suncor Energy 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, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.
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