Van ECK Associates Corp Sells 3,052 Shares of Suncor Energy Inc. (NYSE:SU)

Van ECK Associates Corp trimmed its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,033,979 shares of the oil and gas producer’s stock after selling 3,052 shares during the period. Van ECK Associates Corp’s holdings in Suncor Energy were worth $36,883,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of SU. CWM LLC grew its holdings in shares of Suncor Energy by 20.2% during the third quarter. CWM LLC now owns 5,312 shares of the oil and gas producer’s stock valued at $196,000 after buying an additional 894 shares during the last quarter. Creative Planning grew its stake in shares of Suncor Energy by 4.5% during the 3rd quarter. Creative Planning now owns 261,240 shares of the oil and gas producer’s stock worth $9,645,000 after purchasing an additional 11,205 shares during the period. Sumitomo Life Insurance Co. increased its holdings in Suncor Energy by 2.5% in the third quarter. Sumitomo Life Insurance Co. now owns 37,609 shares of the oil and gas producer’s stock valued at $1,389,000 after buying an additional 917 shares in the last quarter. Mitchell & Pahl Private Wealth LLC increased its stake in shares of Suncor Energy by 2.6% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 22,503 shares of the oil and gas producer’s stock valued at $831,000 after purchasing an additional 561 shares in the last quarter. Finally, Inlet Private Wealth LLC raised its stake in shares of Suncor Energy by 0.5% during the 3rd quarter. Inlet Private Wealth LLC now owns 107,955 shares of the oil and gas producer’s stock worth $3,986,000 after buying an additional 500 shares during the period. 67.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday. 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 reiterated an “outperform” rating and issued a $66.00 price objective on shares of Suncor Energy in a research report on Tuesday, January 7th. Morgan Stanley cut shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Finally, Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $58.00.

Suncor Energy Stock Up 0.7 %

Shares of SU opened at $39.91 on Friday. The company’s 50-day simple moving average is $37.70 and its 200-day simple moving average is $38.58. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. Suncor Energy Inc. has a 1 year low of $31.31 and a 1 year high of $41.94. The stock has a market capitalization of $49.67 billion, a PE ratio of 11.57, a P/E/G ratio of 2.96 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.33%. Analysts forecast that Suncor Energy Inc. will post 3.25 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be paid a $0.399 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s payout ratio is currently 46.67%.

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.