Corient Private Wealth LLC Sells 63,690 Shares of Suncor Energy Inc. $SU

Corient Private Wealth LLC reduced its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 8.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 737,345 shares of the oil and gas producer’s stock after selling 63,690 shares during the quarter. Corient Private Wealth LLC owned approximately 0.06% of Suncor Energy worth $27,614,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SU. Headlands Technologies LLC acquired a new position in shares of Suncor Energy in the 2nd quarter valued at $31,000. Maseco LLP bought a new stake in Suncor Energy in the second quarter valued at about $32,000. Atlantic Union Bankshares Corp acquired a new position in Suncor Energy in the second quarter worth about $37,000. MTM Investment Management LLC bought a new position in Suncor Energy during the second quarter worth about $44,000. Finally, IFP Advisors Inc boosted its holdings in Suncor Energy by 27.6% during the second quarter. IFP Advisors Inc now owns 1,428 shares of the oil and gas producer’s stock valued at $53,000 after purchasing an additional 309 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of SU stock opened at $42.78 on Thursday. Suncor Energy Inc. has a 52 week low of $30.79 and a 52 week high of $45.60. The stock has a market capitalization of $51.40 billion, a PE ratio of 14.02 and a beta of 0.46. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.85 and a current ratio of 1.35. The stock’s fifty day moving average is $42.23 and its 200-day moving average is $40.65.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.22. The business had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $8.82 billion. Suncor Energy had a net margin of 10.61% and a return on equity of 13.01%. During the same quarter in the prior year, the company earned $1.48 EPS. Equities research analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 3rd will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.6%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Wednesday, December 3rd. Suncor Energy’s payout ratio is currently 56.39%.

Analyst Ratings Changes

Several equities analysts recently commented on SU shares. Wells Fargo & Company initiated coverage on Suncor Energy in a research report on Friday, October 17th. They set an “equal weight” rating for the company. Zacks Research cut Suncor Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Royal Bank Of Canada restated an “outperform” rating and issued a $65.00 target price on shares of Suncor Energy in a research note on Friday, October 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Suncor Energy in a research report on Monday. Finally, Raymond James Financial upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Suncor Energy 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.