SVB Wealth LLC Sells 16,282 Shares of Suncor Energy Inc. (NYSE:SU)

SVB Wealth LLC lessened its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 45.6% in the fourth quarter, HoldingsChannel reports. The fund owned 19,394 shares of the oil and gas producer’s stock after selling 16,282 shares during the period. SVB Wealth LLC’s holdings in Suncor Energy were worth $621,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Arlington Trust Co LLC acquired a new position in Suncor Energy in the 3rd quarter valued at $29,000. Optiver Holding B.V. bought a new stake in Suncor Energy during the third quarter worth about $29,000. Sunbelt Securities Inc. acquired a new stake in Suncor Energy during the first quarter worth about $31,000. Headinvest LLC bought a new position in Suncor Energy in the 3rd quarter valued at about $40,000. Finally, Private Trust Co. NA raised its position in shares of Suncor Energy by 38.4% in the 3rd quarter. Private Trust Co. NA now owns 1,222 shares of the oil and gas producer’s stock valued at $42,000 after buying an additional 339 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Trading Up 1.3 %

Shares of Suncor Energy stock opened at $38.54 on Friday. The firm has a market capitalization of $49.61 billion, a PE ratio of 8.20, a price-to-earnings-growth ratio of 3.40 and a beta of 1.13. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. The firm’s 50 day moving average is $35.75 and its 200 day moving average is $33.67. Suncor Energy Inc. has a 1 year low of $27.59 and a 1 year high of $39.32.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.13. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. The firm had revenue of $10.39 billion for the quarter, compared to analysts’ expectations of $8.46 billion. During the same quarter in the previous year, the firm posted $1.33 earnings per share. Equities research analysts forecast that Suncor Energy Inc. will post 3.78 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 4th were issued a $0.406 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend was Friday, March 1st. This is a boost from Suncor Energy’s previous quarterly dividend of $0.39. Suncor Energy’s dividend payout ratio is presently 34.26%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SU. Morgan Stanley lifted their price objective on shares of Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.00.

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.