Geode Capital Management LLC reduced its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 60.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,630 shares of the oil and gas producer’s stock after selling 11,898 shares during the period. Geode Capital Management LLC’s holdings in Suncor Energy were worth $213,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in SU. Mackenzie Financial Corp raised its position in Suncor Energy by 71.0% during the 4th quarter. Mackenzie Financial Corp now owns 14,798,181 shares of the oil and gas producer’s stock worth $413,905,000 after purchasing an additional 6,144,568 shares during the last quarter. Fiera Capital Corp raised its position in Suncor Energy by 39.1% during the 4th quarter. Fiera Capital Corp now owns 6,862,367 shares of the oil and gas producer’s stock worth $192,060,000 after purchasing an additional 1,928,193 shares during the last quarter. Pactiv General Employee Benefit Trust bought a new position in Suncor Energy during the 4th quarter worth $51,018,000. Vanguard Group Inc raised its position in Suncor Energy by 2.4% during the 3rd quarter. Vanguard Group Inc now owns 45,511,913 shares of the oil and gas producer’s stock worth $1,760,855,000 after purchasing an additional 1,077,378 shares during the last quarter. Finally, BlackRock Inc. raised its position in Suncor Energy by 3.5% during the 4th quarter. BlackRock Inc. now owns 31,170,360 shares of the oil and gas producer’s stock worth $871,835,000 after purchasing an additional 1,060,818 shares during the last quarter. 66.94% of the stock is owned by institutional investors and hedge funds.
SU stock opened at $32.10 on Thursday. Suncor Energy Inc. has a 1-year low of $25.81 and a 1-year high of $42.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.56. The stock has a market capitalization of $49.69 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 1.84 and a beta of 1.16.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th will be paid a $0.3121 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.25 annualized dividend and a dividend yield of 3.89%. Suncor Energy’s dividend payout ratio is presently 63.50%.
SU has been the subject of several research analyst reports. Zacks Investment Research lowered Suncor Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, February 11th. Credit Suisse Group raised Suncor Energy from a “neutral” rating to an “outperform” rating in a research report on Thursday, March 14th. Raymond James reissued a “buy” rating on shares of Suncor Energy in a research report on Thursday, May 2nd. GMP Securities reissued a “hold” rating and issued a $47.00 price objective on shares of Suncor Energy in a research report on Thursday, February 7th. Finally, Mizuho reissued an “average” rating and issued a $52.00 price objective on shares of Suncor Energy in a research report on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $49.23.
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About Suncor Energy
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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