DORCHESTER WEALTH MANAGEMENT Co Sells 896 Shares of Suncor Energy Inc. (NYSE:SU)

DORCHESTER WEALTH MANAGEMENT Co lessened its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 386,750 shares of the oil and gas producer’s stock after selling 896 shares during the period. Suncor Energy accounts for approximately 2.6% of DORCHESTER WEALTH MANAGEMENT Co’s holdings, making the stock its 11th biggest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Suncor Energy were worth $13,223,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sanctuary Advisors LLC boosted its holdings in shares of Suncor Energy by 32.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer’s stock valued at $3,035,000 after purchasing an additional 20,081 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of Suncor Energy by 1,345.8% during the 3rd quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer’s stock valued at $17,309,000 after purchasing an additional 436,016 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of Suncor Energy during the 3rd quarter valued at about $1,376,000. Assenagon Asset Management S.A. lifted its holdings in shares of Suncor Energy by 1,324.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock valued at $123,774,000 after acquiring an additional 3,225,543 shares during the last quarter. Finally, DRW Securities LLC bought a new position in shares of Suncor Energy in the 3rd quarter valued at about $1,151,000. Institutional investors own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Cibc World Mkts raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Finally, Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Stock Performance

Suncor Energy stock opened at $39.46 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86. Suncor Energy Inc. has a 1-year low of $33.26 and a 1-year high of $41.94. The firm has a market capitalization of $49.11 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 2.94 and a beta of 1.12. The company’s 50-day moving average is $37.95 and its 200 day moving average is $38.67.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. Research analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.399 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 46.67%.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.