Sequoia Financial Advisors LLC Sells 7,636 Shares of Suncor Energy Inc. (NYSE:SU)

Sequoia Financial Advisors LLC reduced its position in Suncor Energy Inc. (NYSE:SUFree Report) (TSE:SU) by 36.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,538 shares of the oil and gas producer’s stock after selling 7,636 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Suncor Energy were worth $500,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. TD Asset Management Inc raised its holdings in Suncor Energy by 16.8% in the fourth quarter. TD Asset Management Inc now owns 32,070,496 shares of the oil and gas producer’s stock worth $1,032,453,000 after purchasing an additional 4,612,764 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Suncor Energy by 669.2% in the first quarter. Assenagon Asset Management S.A. now owns 4,348,589 shares of the oil and gas producer’s stock worth $160,507,000 after purchasing an additional 3,783,250 shares in the last quarter. AGF Management Ltd. raised its holdings in Suncor Energy by 454.9% in the fourth quarter. AGF Management Ltd. now owns 3,586,421 shares of the oil and gas producer’s stock worth $114,909,000 after purchasing an additional 2,940,103 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Suncor Energy by 8.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 22,384,816 shares of the oil and gas producer’s stock worth $717,210,000 after purchasing an additional 1,725,969 shares in the last quarter. Finally, Sanders Capital LLC raised its holdings in Suncor Energy by 2.8% in the fourth quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock worth $1,836,470,000 after purchasing an additional 1,568,629 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SU shares. The Goldman Sachs Group upped their price objective on shares of Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Raymond James upgraded shares of Suncor Energy to a “hold” rating in a report on Tuesday, May 28th. TD Securities upped their price objective on shares of Suncor Energy from $52.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, May 22nd. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, June 24th. Finally, Morgan Stanley upped their price objective on shares of Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $51.67.

View Our Latest Analysis on Suncor Energy

Suncor Energy Price Performance

Shares of NYSE SU opened at $37.78 on Monday. The business’s 50 day moving average price is $38.69 and its 200 day moving average price is $36.03. The firm has a market cap of $48.42 billion, a P/E ratio of 8.41, a P/E/G ratio of 3.58 and a beta of 1.12. Suncor Energy Inc. has a 52 week low of $28.26 and a 52 week high of $41.50. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.25.

Suncor Energy (NYSE:SUGet Free Report) (TSE:SU) last released its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $1.05 EPS for the quarter, topping the consensus estimate of $0.90 by $0.15. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $8.64 billion. On average, sell-side analysts expect that Suncor Energy Inc. will post 3.52 earnings per share for the current year.

Suncor Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th were given a dividend of $0.395 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.18%. Suncor Energy’s dividend payout ratio (DPR) is 35.19%.

Suncor Energy Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

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