Capital International Investors reduced its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 6.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 35,779,145 shares of the oil and gas producer’s stock after selling 2,266,813 shares during the quarter. Capital International Investors’ holdings in Suncor Energy were worth $1,172,662,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA boosted its stake in shares of Suncor Energy by 35.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 36,909,449 shares of the oil and gas producer’s stock worth $1,210,630,000 after purchasing an additional 9,754,349 shares during the period. Beutel Goodman & Co Ltd. increased its stake in Suncor Energy by 205.5% during the 3rd quarter. Beutel Goodman & Co Ltd. now owns 13,042,524 shares of the oil and gas producer’s stock valued at $411,456,000 after purchasing an additional 8,773,910 shares in the last quarter. Sanders Capital LLC increased its stake in Suncor Energy by 18.7% during the 4th quarter. Sanders Capital LLC now owns 31,000,294 shares of the oil and gas producer’s stock valued at $1,065,765,000 after purchasing an additional 4,891,210 shares in the last quarter. Value Partner Investments Inc. acquired a new position in Suncor Energy during the 4th quarter valued at approximately $59,994,000. Finally, Millennium Management LLC increased its stake in Suncor Energy by 108.0% during the 3rd quarter. Millennium Management LLC now owns 2,665,434 shares of the oil and gas producer’s stock valued at $84,174,000 after purchasing an additional 1,384,083 shares in the last quarter. Institutional investors own 66.56% of the company’s stock.
NYSE SU traded up $0.39 during mid-day trading on Thursday, reaching $13.84. 8,407,764 shares of the stock were exchanged, compared to its average volume of 10,247,142. The business’s 50 day moving average is $24.04 and its 200-day moving average is $29.71. Suncor Energy Inc. has a 1 year low of $9.60 and a 1 year high of $34.56. The company has a market capitalization of $18.37 billion, a P/E ratio of 10.18, a P/E/G ratio of 3.59 and a beta of 1.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.58 and a current ratio of 0.94.
Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.11). Suncor Energy had a return on equity of 9.86% and a net margin of 7.35%. The firm had revenue of $7.27 billion for the quarter, compared to analysts’ expectations of $8.86 billion. Equities analysts predict that Suncor Energy Inc. will post 0.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th were issued a dividend of $0.35 per share. The ex-dividend date was Tuesday, March 3rd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 10.12%. Suncor Energy’s dividend payout ratio is 65.57%.
A number of research analysts have issued reports on the stock. Stifel Nicolaus upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, March 19th. JPMorgan Chase & Co. dropped their price objective on shares of Suncor Energy from $43.00 to $33.00 and set a “neutral” rating on the stock in a report on Wednesday, March 11th. Stifel Firstegy raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, March 19th. ValuEngine downgraded shares of Suncor Energy from a “hold” rating to a “sell” rating in a report on Tuesday, March 17th. Finally, Zacks Investment Research raised shares of Suncor Energy from a “strong sell” rating to a “hold” rating and set a $10.00 price objective on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $39.44.
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.
Recommended Story: Gap Up Stocks
Want to see what other hedge funds are holding SU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Suncor Energy Inc. (NYSE:SU) (TSE:SU).
Receive News & Ratings for Suncor Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Suncor Energy and related companies with MarketBeat.com's FREE daily email newsletter.