Ritholtz Wealth Management Sells 10,301 Shares of Suncor Energy Inc. $SU

Ritholtz Wealth Management decreased its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 11.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 76,585 shares of the oil and gas producer’s stock after selling 10,301 shares during the period. Ritholtz Wealth Management’s holdings in Suncor Energy were worth $5,198,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SU. Livelsberger Financial Advisory purchased a new stake in shares of Suncor Energy in the third quarter worth approximately $25,000. Versant Capital Management Inc boosted its holdings in Suncor Energy by 418.9% during the 2nd quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 398 shares during the period. Continuum Advisory LLC purchased a new position in Suncor Energy during the 2nd quarter valued at $27,000. Sawyer & Company Inc purchased a new position in Suncor Energy during the 3rd quarter valued at $44,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in Suncor Energy in the 1st quarter valued at $53,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SU has been the topic of a number of recent analyst reports. Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Weiss Ratings upgraded Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th. Wall Street Zen raised shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 17th. Morgan Stanley set a $106.00 target price on shares of Suncor Energy in a research note on Wednesday, August 19th. Finally, Desjardins upgraded shares of Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Suncor Energy currently has a consensus rating of “Buy” and a consensus price target of $81.71.

Suncor Energy Trading Up 0.5%

Shares of NYSE SU opened at $69.34 on Friday. Suncor Energy Inc. has a twelve month low of $42.09 and a twelve month high of $80.25. The firm has a market cap of $80.33 billion, a PE ratio of 9.36, a price-to-earnings-growth ratio of 0.22 and a beta of 0.22. The business has a fifty day simple moving average of $71.68 and a two-hundred day simple moving average of $64.20. The company has a quick ratio of 1.27, a current ratio of 1.71 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, November 3rd. The oil and gas producer reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.49. Suncor Energy had a return on equity of 25.55% and a net margin of 17.49%. The business had revenue of $13.26 billion for the quarter, compared to the consensus estimate of $11.85 billion. During the same quarter in the prior year, the company earned $1.48 EPS. Analysts expect that Suncor Energy Inc. will post 9.30 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 24th. Investors of record on Thursday, December 3rd will be issued a C$0.66 dividend. The ex-dividend date is Thursday, December 3rd. This is an increase from Suncor Energy’s previous quarterly dividend of C$0.60. This represents a $2.64 annualized dividend and a dividend yield of 3.8%. Suncor Energy’s dividend payout ratio is presently 25.44%.

About Suncor Energy

Suncor Energy Inc. is an integrated energy company headquartered in Calgary, Alberta. Its operations span the energy value chain, from producing and processing crude oil to refining, marketing and distributing fuel products. The company’s upstream business includes oil sands development and upgrading in Alberta, as well as conventional and offshore oil and gas production. Its refining and marketing operations serve customers in Canada and the United States, selling products such as gasoline, diesel and jet fuel under brands including Petro-Canada.