Commonwealth Equity Services LLC cut its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 8.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,164 shares of the oil and gas producer’s stock after selling 2,094 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Suncor Energy were worth $390,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of SU. Rosenberg Matthew Hamilton bought a new stake in shares of Suncor Energy during the second quarter valued at about $28,000. First Command Bank bought a new stake in Suncor Energy during the second quarter valued at $32,000. Balentine LLC bought a new position in Suncor Energy in the 1st quarter worth about $33,000. Sowell Financial Services LLC raised its holdings in shares of Suncor Energy by 108.0% in the 1st quarter. Sowell Financial Services LLC now owns 2,600 shares of the oil and gas producer’s stock valued at $41,000 after acquiring an additional 1,350 shares in the last quarter. Finally, First Bank & Trust boosted its position in shares of Suncor Energy by 108.5% during the 2nd quarter. First Bank & Trust now owns 2,581 shares of the oil and gas producer’s stock valued at $44,000 after acquiring an additional 1,343 shares during the last quarter. Hedge funds and other institutional investors own 65.09% of the company’s stock.
NYSE:SU opened at $13.35 on Wednesday. The firm has a market capitalization of $20.36 billion, a P/E ratio of -5.04 and a beta of 1.40. The company has a quick ratio of 0.63, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. The company has a fifty day moving average of $15.97 and a 200 day moving average of $16.99. Suncor Energy Inc. has a 52 week low of $9.60 and a 52 week high of $34.56.
Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Wednesday, July 22nd. The oil and gas producer reported ($0.98) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.54). The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $4.07 billion. Suncor Energy had a positive return on equity of 0.44% and a negative net margin of 17.17%. As a group, analysts anticipate that Suncor Energy Inc. will post -1.08 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a $0.1565 dividend. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.15. This represents a $0.63 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend is Thursday, September 3rd. Suncor Energy’s dividend payout ratio (DPR) is currently 30.19%.
A number of equities research analysts recently weighed in on the stock. ValuEngine downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Monday, August 3rd. Royal Bank of Canada dropped their price objective on shares of Suncor Energy from $28.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, September 9th. Barclays began coverage on shares of Suncor Energy in a research report on Wednesday, September 2nd. They issued an “overweight” rating and a $29.00 target price for the company. Scotiabank upgraded Suncor Energy from a “sector perform” rating to a “sector outperform” rating in a research report on Thursday, June 11th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Suncor Energy in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Suncor Energy currently has an average rating of “Buy” and an average target price of $33.40.
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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