Hennessy Advisors Inc. Sells 5,500 Shares of Suncor Energy Inc. (NYSE:SU)

Hennessy Advisors Inc. cut its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 168,560 shares of the oil and gas producer’s stock after selling 5,500 shares during the quarter. Hennessy Advisors Inc.’s holdings in Suncor Energy were worth $6,014,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Choreo LLC purchased a new position in Suncor Energy in the second quarter worth about $230,000. Envestnet Asset Management Inc. lifted its stake in shares of Suncor Energy by 5.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 656,635 shares of the oil and gas producer’s stock worth $25,018,000 after purchasing an additional 36,069 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Suncor Energy by 15.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 43,191 shares of the oil and gas producer’s stock worth $1,640,000 after buying an additional 5,856 shares during the last quarter. Richardson Financial Services Inc. grew its position in Suncor Energy by 82.8% during the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 328 shares during the period. Finally, King Luther Capital Management Corp purchased a new stake in Suncor Energy during the second quarter valued at approximately $1,377,000. 67.37% of the stock is owned by institutional investors.

Suncor Energy Stock Down 0.1 %

NYSE SU opened at $39.02 on Friday. Suncor Energy Inc. has a 12 month low of $31.03 and a 12 month high of $41.94. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. The stock has a market cap of $48.57 billion, a PE ratio of 8.50, a P/E/G ratio of 3.38 and a beta of 1.12. The stock’s 50 day moving average is $38.07 and its 200 day moving average is $38.52.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd were given a dividend of $0.4089 per share. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.19%. Suncor Energy’s dividend payout ratio is currently 35.08%.

Wall Street Analyst Weigh In

SU has been the subject of a number of recent research reports. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Finally, StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Suncor Energy has an average rating of “Moderate Buy” and a consensus price target of $58.00.

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.