Cardinal Capital Management Inc. Sells 56,919 Shares of Suncor Energy Inc. (NYSE:SU)

Cardinal Capital Management Inc. cut its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,654,107 shares of the oil and gas producer’s stock after selling 56,919 shares during the period. Suncor Energy makes up 4.4% of Cardinal Capital Management Inc.’s holdings, making the stock its 4th largest position. Cardinal Capital Management Inc. owned approximately 0.29% of Suncor Energy worth $130,139,000 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. Assenagon Asset Management S.A. grew its holdings in shares of Suncor Energy by 1,324.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock worth $123,774,000 after buying an additional 3,225,543 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Suncor Energy by 23.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock worth $357,827,000 after acquiring an additional 1,829,936 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Suncor Energy by 23.0% during the 3rd quarter. Principal Financial Group Inc. now owns 6,939,573 shares of the oil and gas producer’s stock worth $256,429,000 after acquiring an additional 1,296,142 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Suncor Energy by 5.1% in the second quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock valued at $956,850,000 after purchasing an additional 1,209,073 shares during the last quarter. Finally, Merewether Investment Management LP bought a new stake in shares of Suncor Energy in the second quarter worth $42,268,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. 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 reaffirmed an “outperform” rating and issued a $66.00 target price on shares of Suncor Energy in a research report on Tuesday, January 7th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley lowered Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Stock Performance

SU opened at $39.22 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The stock has a market cap of $48.81 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 3.42 and a beta of 1.12. Suncor Energy Inc. has a 12-month low of $31.25 and a 12-month high of $41.94. The business has a 50 day moving average of $38.10 and a 200-day moving average of $38.53.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.4089 per share. This represents a $1.64 dividend on an annualized basis and a yield of 4.17%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date was Tuesday, December 3rd. Suncor Energy’s payout ratio is 35.08%.

About Suncor Energy

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.