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Clear Street Markets LLC reduced its holdings in shares of Suncor Energy Inc. (NYSE:SU – Get Rating) (TSE:SU) by 60.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 53,800 shares of the oil and gas producer’s stock after selling 83,300 shares during the quarter. Clear Street Markets LLC’s holdings in Suncor Energy were worth $1,514,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Arcadia Investment Management Corp MI lifted its holdings in Suncor Energy by 3.9% during the third quarter. Arcadia Investment Management Corp MI now owns 160,207 shares of the oil and gas producer’s stock worth $4,510,000 after acquiring an additional 6,070 shares during the period. Bank of Nova Scotia raised its stake in shares of Suncor Energy by 9.7% in the second quarter. Bank of Nova Scotia now owns 16,525,258 shares of the oil and gas producer’s stock valued at $579,760,000 after buying an additional 1,466,520 shares during the period. Walker Asset Management LLC bought a new stake in shares of Suncor Energy in the second quarter valued at $2,483,000. Quadrant Capital Group LLC raised its stake in shares of Suncor Energy by 17.4% in the second quarter. Quadrant Capital Group LLC now owns 5,627 shares of the oil and gas producer’s stock valued at $197,000 after buying an additional 833 shares during the period. Finally, Lindbrook Capital LLC raised its stake in shares of Suncor Energy by 23.5% in the second quarter. Lindbrook Capital LLC now owns 3,269 shares of the oil and gas producer’s stock valued at $115,000 after buying an additional 623 shares during the period. 58.04% of the stock is currently owned by institutional investors.
Suncor Energy Price Performance
Shares of SU traded up $0.14 during midday trading on Monday, reaching $32.44. The stock had a trading volume of 225,026 shares, compared to its average volume of 4,600,589. The company’s 50-day moving average is $32.59 and its 200 day moving average is $32.21. Suncor Energy Inc. has a 12-month low of $25.27 and a 12-month high of $42.72. The company has a current ratio of 1.26, a quick ratio of 0.91 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $43.40 billion, a price-to-earnings ratio of 7.44, a price-to-earnings-growth ratio of 0.56 and a beta of 1.25.
Suncor Energy (NYSE:SU – Get Rating) (TSE:SU) last issued its earnings results on Wednesday, November 2nd. The oil and gas producer reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.04. The company had revenue of $11.54 billion during the quarter, compared to analysts’ expectations of $9.74 billion. Suncor Energy had a return on equity of 27.23% and a net margin of 14.23%. On average, equities analysts predict that Suncor Energy Inc. will post 5.73 EPS for the current fiscal year.
Suncor Energy Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, December 23rd. Investors of record on Friday, December 2nd were paid a $0.3911 dividend. The ex-dividend date of this dividend was Thursday, December 1st. This represents a $1.56 annualized dividend and a dividend yield of 4.82%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.37. Suncor Energy’s dividend payout ratio is presently 35.55%.
Wall Street Analyst Weigh In
SU has been the topic of several research reports. Jefferies Financial Group initiated coverage on Suncor Energy in a research note on Wednesday, October 19th. They issued a “hold” rating on the stock. Raymond James boosted their target price on Suncor Energy from C$50.00 to C$53.00 in a research note on Tuesday, November 8th. StockNews.com lowered Suncor Energy from a “buy” rating to a “hold” rating in a research note on Friday, November 4th. Credit Suisse Group decreased their price objective on Suncor Energy from C$63.00 to C$60.00 in a research note on Monday, November 21st. Finally, Scotiabank decreased their price objective on Suncor Energy from C$56.00 to C$53.00 in a research note on Wednesday, November 30th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $51.58.
About Suncor Energy
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Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.
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