Thoroughbred Financial Services LLC Decreases Holdings in Suncor Energy Inc. $SU

Thoroughbred Financial Services LLC lowered its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 16.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 19,686 shares of the oil and gas producer’s stock after selling 3,818 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Suncor Energy were worth $737,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SU. Maseco LLP purchased a new position in Suncor Energy in the second quarter valued at approximately $32,000. N.E.W. Advisory Services LLC purchased a new position in shares of Suncor Energy in the 1st quarter valued at $36,000. Atlantic Union Bankshares Corp acquired a new stake in Suncor Energy during the 2nd quarter worth $37,000. Harbour Investments Inc. raised its stake in Suncor Energy by 67.0% during the 1st quarter. Harbour Investments Inc. now owns 1,169 shares of the oil and gas producer’s stock worth $45,000 after acquiring an additional 469 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in Suncor Energy by 27.6% in the second quarter. IFP Advisors Inc now owns 1,428 shares of the oil and gas producer’s stock valued at $53,000 after acquiring an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of NYSE SU opened at $44.30 on Monday. The stock has a fifty day moving average price of $41.13 and a 200 day moving average price of $39.26. Suncor Energy Inc. has a 1-year low of $30.79 and a 1-year high of $44.70. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77. The company has a market cap of $53.44 billion, a PE ratio of 13.58, a P/E/G ratio of 3.52 and a beta of 0.75.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, November 4th. The oil and gas producer reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.22. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. The company had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.82 billion. During the same quarter in the prior year, the firm earned $1.48 EPS. Sell-side analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 3rd will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.4%. The ex-dividend date is Wednesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s payout ratio is presently 55.74%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Suncor Energy in a report on Thursday. Raymond James Financial raised Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Zacks Research downgraded Suncor Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Wells Fargo & Company initiated coverage on Suncor Energy in a research note on Friday, October 17th. They issued an “equal weight” rating for the company. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $65.00 price objective on shares of Suncor Energy in a report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Suncor Energy Profile

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.