Renaissance Technologies LLC Cuts Stake in Suncor Energy Inc. (NYSE:SU)

Renaissance Technologies LLC lessened its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 80.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 134,526 shares of the oil and gas producer’s stock after selling 546,640 shares during the period. Renaissance Technologies LLC’s holdings in Suncor Energy were worth $5,125,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Richardson Financial Services Inc. purchased a new position in Suncor Energy in the 4th quarter worth about $25,000. Trust Co. of Vermont bought a new position in Suncor Energy during the second quarter valued at approximately $26,000. Summit Securities Group LLC purchased a new stake in Suncor Energy in the second quarter worth approximately $27,000. Ridgewood Investments LLC bought a new stake in Suncor Energy in the 2nd quarter worth approximately $29,000. Finally, Adirondack Trust Co. raised its stake in Suncor Energy by 45.6% during the 4th quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 313 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

SU has been the topic of a number of research reports. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Saturday. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Scotiabank lowered their price objective on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Wolfe Research initiated coverage on shares of Suncor Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $68.00 target price for the company. Finally, TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.83.

Suncor Energy Price Performance

Shares of NYSE:SU opened at $36.81 on Friday. The company has a market capitalization of $46.77 billion, a P/E ratio of 8.20, a P/E/G ratio of 2.57 and a beta of 1.13. Suncor Energy Inc. has a 1-year low of $29.45 and a 1-year high of $41.94. The firm’s 50 day simple moving average is $38.80 and its two-hundred day simple moving average is $38.41. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The company had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $9.30 billion. During the same quarter in the previous year, the company earned $0.71 EPS. Suncor Energy’s revenue for the quarter was up 10.1% on a year-over-year basis. Research analysts expect that Suncor Energy Inc. will post 3.71 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were issued a $0.395 dividend. This represents a $1.58 annualized dividend and a dividend yield of 4.29%. The ex-dividend date was Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 36.08%.

Suncor Energy Company Profile

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.