Burgundy Asset Management Ltd. Cuts Holdings in Suncor Energy Inc. (NYSE:SU)

Burgundy Asset Management Ltd. cut its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 14.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,536,322 shares of the oil and gas producer’s stock after selling 596,908 shares during the period. Burgundy Asset Management Ltd. owned approximately 0.21% of Suncor Energy worth $123,913,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of SU. Advisory Services Network LLC lifted its stake in shares of Suncor Energy by 3.9% during the 2nd quarter. Advisory Services Network LLC now owns 6,470 shares of the oil and gas producer’s stock worth $189,000 after acquiring an additional 245 shares during the last quarter. Peapack Gladstone Financial Corp increased its holdings in Suncor Energy by 3.2% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 13,593 shares of the oil and gas producer’s stock worth $397,000 after purchasing an additional 417 shares during the period. Lincoln National Corp increased its holdings in Suncor Energy by 1.9% during the 2nd quarter. Lincoln National Corp now owns 25,046 shares of the oil and gas producer’s stock worth $731,000 after purchasing an additional 463 shares during the period. Evercore Wealth Management LLC increased its holdings in Suncor Energy by 7.7% during the 2nd quarter. Evercore Wealth Management LLC now owns 6,675 shares of the oil and gas producer’s stock worth $195,000 after purchasing an additional 475 shares during the period. Finally, UBS Asset Management Americas Inc. increased its holdings in Suncor Energy by 13.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,658 shares of the oil and gas producer’s stock worth $136,000 after purchasing an additional 562 shares during the period. 65.54% of the stock is owned by institutional investors and hedge funds.

Shares of Suncor Energy Inc. (NYSE:SU) traded up $0.01 during mid-day trading on Friday, hitting $36.72. The stock had a trading volume of 2,919,193 shares, compared to its average volume of 2,377,806. The firm has a market cap of $60,749.84, a PE ratio of 22.12, a PEG ratio of 2.72 and a beta of 0.85. The company has a current ratio of 0.91, a quick ratio of 0.62 and a debt-to-equity ratio of 0.27. Suncor Energy Inc. has a fifty-two week low of $27.96 and a fifty-two week high of $36.92.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Wednesday, October 25th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.15. Suncor Energy had a return on equity of 5.68% and a net margin of 11.63%. The business had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $6.80 billion. research analysts expect that Suncor Energy Inc. will post 1.35 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Investors of record on Friday, December 1st were paid a $0.251 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Thursday, November 30th. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.19. Suncor Energy’s payout ratio is currently 60.84%.

A number of research analysts have recently issued reports on SU shares. Zacks Investment Research downgraded Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, October 12th. Morgan Stanley raised their price objective on Suncor Energy from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, October 13th. Canaccord Genuity reissued a “buy” rating and issued a $51.00 price objective on shares of Suncor Energy in a research report on Thursday, October 26th. Edward Jones raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, November 20th. Finally, Wolfe Research raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $43.14.

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About Suncor Energy

Suncor Energy Inc is a Canada-based integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.

Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

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