Erste Asset Management GmbH Lowers Stock Holdings in Suncor Energy Inc. (NYSE:SU)

Erste Asset Management GmbH reduced its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 72.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,800 shares of the oil and gas producer’s stock after selling 12,500 shares during the quarter. Erste Asset Management GmbH’s holdings in Suncor Energy were worth $169,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. HHM Wealth Advisors LLC boosted its stake in shares of Suncor Energy by 62.1% in the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after buying an additional 325 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Suncor Energy in the fourth quarter valued at approximately $39,000. Stonebridge Financial Group LLC purchased a new stake in shares of Suncor Energy in the fourth quarter valued at approximately $45,000. UMB Bank n.a. raised its holdings in Suncor Energy by 27.5% during the fourth quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer’s stock worth $50,000 after purchasing an additional 300 shares during the last quarter. Finally, Private Trust Co. NA raised its holdings in Suncor Energy by 50.2% during the fourth quarter. Private Trust Co. NA now owns 1,705 shares of the oil and gas producer’s stock worth $61,000 after purchasing an additional 570 shares during the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Stock Performance

Suncor Energy stock opened at $36.63 on Friday. The stock has a fifty day moving average price of $38.29 and a 200 day moving average price of $38.24. Suncor Energy Inc. has a 52 week low of $33.81 and a 52 week high of $41.95. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $45.32 billion, a P/E ratio of 10.62, a PEG ratio of 2.94 and a beta of 1.11.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. Equities research analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share 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 $0.399 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s payout ratio is 45.51%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley cut Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Bank of America assumed coverage on Suncor Energy in a report on Wednesday, February 26th. They issued a “neutral” rating for the company. Finally, Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

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.