Fairbanks Capital Management Inc. Has $5.26 Million Position in Suncor Energy Inc. $SU

Fairbanks Capital Management Inc. trimmed its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 7.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,719 shares of the oil and gas producer’s stock after selling 9,472 shares during the period. Suncor Energy comprises 2.7% of Fairbanks Capital Management Inc.’s holdings, making the stock its 13th largest position. Fairbanks Capital Management Inc.’s holdings in Suncor Energy were worth $5,256,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SU. Vanguard Group Inc. raised its holdings in Suncor Energy by 3.1% during the second quarter. Vanguard Group Inc. now owns 54,631,516 shares of the oil and gas producer’s stock worth $2,046,442,000 after acquiring an additional 1,632,247 shares in the last quarter. Artisan Partners Limited Partnership increased its position in shares of Suncor Energy by 38.5% during the 2nd quarter. Artisan Partners Limited Partnership now owns 33,722,975 shares of the oil and gas producer’s stock worth $1,264,043,000 after purchasing an additional 9,378,552 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Suncor Energy by 3.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,911,602 shares of the oil and gas producer’s stock worth $779,788,000 after purchasing an additional 641,354 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Suncor Energy by 0.6% in the 3rd quarter. Principal Financial Group Inc. now owns 18,854,921 shares of the oil and gas producer’s stock valued at $789,213,000 after buying an additional 106,765 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in shares of Suncor Energy by 29.5% in the second quarter. Canada Pension Plan Investment Board now owns 10,555,381 shares of the oil and gas producer’s stock valued at $395,649,000 after buying an additional 2,406,000 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Raymond James Financial raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a research note on Monday, December 29th. JPMorgan Chase & Co. raised shares of Suncor Energy from a “neutral” rating to an “overweight” rating and upped their target price for the company from $46.15 to $54.00 in a report on Tuesday, January 20th. Wall Street Zen cut Suncor Energy from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Finally, Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.00.

Suncor Energy Stock Up 0.9%

Suncor Energy stock opened at $56.25 on Tuesday. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $57.13. The stock has a market cap of $66.93 billion, a P/E ratio of 16.21 and a beta of 0.45. The company’s 50-day moving average price is $49.39 and its two-hundred day moving average price is $44.33. The company has a quick ratio of 0.89, a current ratio of 1.39 and a debt-to-equity ratio of 0.20.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.79 billion. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.During the same quarter last year, the company earned $1.25 earnings per share. As a group, analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, March 4th. Suncor Energy’s payout ratio is presently 49.57%.

Suncor Energy 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.