Intech Investment Management LLC Sells 46,835 Shares of Suncor Energy Inc. $SU

Intech Investment Management LLC trimmed its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 27.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 125,124 shares of the oil and gas producer’s stock after selling 46,835 shares during the quarter. Intech Investment Management LLC’s holdings in Suncor Energy were worth $5,561,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Suncor Energy by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer’s stock worth $2,473,173,000 after buying an additional 1,166,405 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of Suncor Energy by 0.4% during the third quarter. Artisan Partners Limited Partnership now owns 33,868,775 shares of the oil and gas producer’s stock worth $1,417,029,000 after purchasing an additional 145,800 shares during the period. Dodge & Cox lifted its holdings in shares of Suncor Energy by 0.3% in the 3rd quarter. Dodge & Cox now owns 27,471,954 shares of the oil and gas producer’s stock worth $1,148,602,000 after purchasing an additional 70,300 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Suncor Energy by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 19,371,704 shares of the oil and gas producer’s stock worth $860,933,000 after purchasing an additional 516,783 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in Suncor Energy by 8.3% in the 4th quarter. Fisher Asset Management LLC now owns 16,820,924 shares of the oil and gas producer’s stock valued at $746,176,000 after purchasing an additional 1,289,959 shares during the period. 67.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Suncor Energy from $66.00 to $73.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. Wall Street Zen raised shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Royal Bank Of Canada lifted their price target on shares of Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, April 1st. ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. Finally, Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $72.00.

Suncor Energy Trading Down 0.0%

NYSE SU opened at $62.34 on Monday. The firm has a market capitalization of $73.60 billion, a P/E ratio of 16.36 and a beta of 0.27. The business has a fifty day simple moving average of $65.25 and a 200 day simple moving average of $55.12. Suncor Energy Inc. has a 12 month low of $35.29 and a 12 month high of $70.29. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The company had revenue of $10.41 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same period in the previous year, the company posted $1.31 earnings per share. On average, analysts predict that Suncor Energy Inc. will post 7.07 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Thursday, June 4th. Suncor Energy’s dividend payout ratio is presently 46.19%.

Suncor Energy Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.