Gulf International Bank UK Ltd reduced its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 12.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,049 shares of the oil and gas producer’s stock after selling 3,615 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Suncor Energy were worth $822,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Rockefeller Capital Management L.P. increased its stake in Suncor Energy by 207.8% in the first quarter. Rockefeller Capital Management L.P. now owns 3,361 shares of the oil and gas producer’s stock valued at $109,000 after purchasing an additional 2,269 shares during the period. Thomas J. Herzfeld Advisors Inc. increased its stake in Suncor Energy by 39.9% in the first quarter. Thomas J. Herzfeld Advisors Inc. now owns 1,468 shares of the oil and gas producer’s stock valued at $48,000 after purchasing an additional 419 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in Suncor Energy by 14.7% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,822,600 shares of the oil and gas producer’s stock valued at $448,113,000 after purchasing an additional 1,772,600 shares during the period. Belpointe Asset Management LLC acquired a new position in Suncor Energy in the first quarter valued at $116,000. Finally, Marshall Wace LLP acquired a new position in Suncor Energy in the first quarter valued at $755,000. Hedge funds and other institutional investors own 64.07% of the company’s stock.
A number of research analysts have commented on the stock. National Bank Financial lowered shares of Suncor Energy from an “outperform overweight” rating to a “sector perform overweight” rating in a research note on Tuesday, October 1st. BMO Capital Markets restated a “buy” rating on shares of Suncor Energy in a research note on Monday, June 24th. Citigroup dropped their price objective on shares of Suncor Energy from $59.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Finally, ValuEngine upgraded shares of Suncor Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, August 27th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Suncor Energy has an average rating of “Buy” and a consensus price target of $48.23.
Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Wednesday, July 24th. The oil and gas producer reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.09). The firm had revenue of $7.55 billion during the quarter, compared to analysts’ expectations of $8.15 billion. Suncor Energy had a net margin of 14.55% and a return on equity of 10.20%. On average, research analysts forecast that Suncor Energy Inc. will post 2.45 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were issued a $0.321 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.31. The ex-dividend date was Tuesday, September 3rd. This represents a $1.28 annualized dividend and a dividend yield of 4.31%. Suncor Energy’s payout ratio is presently 63.00%.
Suncor Energy Company Profile
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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