Cumberland Partners Ltd Sells 16,082 Shares of Suncor Energy Inc. (SU)

Cumberland Partners Ltd decreased its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 579,035 shares of the oil and gas producer’s stock after selling 16,082 shares during the period. Suncor Energy comprises 2.8% of Cumberland Partners Ltd’s portfolio, making the stock its 14th biggest position. Cumberland Partners Ltd’s holdings in Suncor Energy were worth $21,347,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SU. Thornburg Investment Management Inc. acquired a new position in shares of Suncor Energy during the 3rd quarter worth approximately $136,771,000. Janus Henderson Group PLC acquired a new position in shares of Suncor Energy during the 2nd quarter worth approximately $99,291,000. APG Asset Management N.V. increased its position in shares of Suncor Energy by 53.9% during the 4th quarter. APG Asset Management N.V. now owns 7,248,085 shares of the oil and gas producer’s stock worth $222,332,000 after purchasing an additional 2,537,800 shares during the last quarter. Check Capital Management Inc. CA increased its position in shares of Suncor Energy by 95.8% during the 3rd quarter. Check Capital Management Inc. CA now owns 4,094,299 shares of the oil and gas producer’s stock worth $143,423,000 after purchasing an additional 2,002,773 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in shares of Suncor Energy during the 4th quarter worth approximately $69,523,000. Hedge funds and other institutional investors own 65.69% of the company’s stock.

Several research analysts have weighed in on the company. Piper Jaffray Companies set a $46.00 price target on Suncor Energy and gave the stock a “buy” rating in a research report on Friday, February 9th. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. raised Suncor Energy from a “neutral” rating to an “overweight” rating in a report on Friday, February 9th. Canaccord Genuity reissued a “buy” rating and set a $51.00 target price on shares of Suncor Energy in a report on Thursday, October 26th. Finally, Zacks Investment Research lowered Suncor Energy from a “buy” rating to a “hold” rating in a report on Monday, November 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $46.67.

Suncor Energy Inc. (NYSE:SU) opened at $33.99 on Thursday. The firm has a market capitalization of $54,963.65, a P/E ratio of 16.34, a P/E/G ratio of 2.17 and a beta of 0.80. Suncor Energy Inc. has a 1-year low of $27.96 and a 1-year high of $38.39. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.64 and a current ratio of 1.00.

The company also recently declared a quarterly dividend, which will be paid on Monday, March 26th. Investors of record on Monday, March 5th will be paid a $0.286 dividend. The ex-dividend date is Friday, March 2nd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.25. This represents a $1.14 annualized dividend and a yield of 3.37%. Suncor Energy’s payout ratio is 48.56%.

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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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