Orion Porfolio Solutions LLC Sells 36,169 Shares of Suncor Energy Inc. $SU

Orion Porfolio Solutions LLC lowered its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 55.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,389 shares of the oil and gas producer’s stock after selling 36,169 shares during the quarter. Orion Porfolio Solutions LLC’s holdings in Suncor Energy were worth $1,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in Suncor Energy in the 2nd quarter valued at approximately $31,000. Maseco LLP bought a new stake in shares of Suncor Energy in the second quarter worth $32,000. Atlantic Union Bankshares Corp bought a new stake in shares of Suncor Energy in the second quarter worth $37,000. MTM Investment Management LLC acquired a new stake in Suncor Energy in the second quarter valued at $44,000. Finally, IFP Advisors Inc raised its position in Suncor Energy by 27.6% during the 2nd quarter. IFP Advisors Inc now owns 1,428 shares of the oil and gas producer’s stock worth $53,000 after purchasing an additional 309 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on SU. Wells Fargo & Company assumed coverage on Suncor Energy in a research report on Friday, October 17th. They issued an “equal weight” rating on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Suncor Energy in a research note on Monday. Raymond James Financial upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Wall Street Zen upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $65.00 price target on shares of Suncor Energy in a research report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $65.00.

Suncor Energy Trading Up 0.5%

NYSE SU opened at $43.15 on Wednesday. The stock has a market capitalization of $51.85 billion, a P/E ratio of 14.15 and a beta of 0.46. The business has a 50 day simple moving average of $42.47 and a 200 day simple moving average of $40.85. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.35 and a quick ratio of 0.85. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $45.60.

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

Suncor Energy Increases Dividend

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

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.