Barings LLC Has $15.68 Million Holdings in Suncor Energy Inc. (NYSE:SU)

Key Points

• Barings LLC has decreased its stake in Suncor Energy by 27.0% during the first quarter, reducing its shares to 404,920 after selling 149,966 shares.
• Suncor Energy reported $0.91 earnings per share for the most recent quarter, surpassing the consensus estimate by $0.05.
• The company recently increased its quarterly dividend to $0.4133 per share, representing an annualized yield of 4.2%.

Barings LLC decreased its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 27.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 404,920 shares of the oil and gas producer's stock after selling 149,966 shares during the quarter. Barings LLC's holdings in Suncor Energy were worth $15,679,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SU. Hanson & Doremus Investment Management grew its position in Suncor Energy by 143.5% in the 1st quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock worth $31,000 after purchasing an additional 465 shares during the last quarter. Salem Investment Counselors Inc. grew its position in Suncor Energy by 97.6% in the 1st quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 405 shares during the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of Suncor Energy during the 1st quarter worth about $36,000. Covestor Ltd boosted its position in shares of Suncor Energy by 30.5% during the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock valued at $39,000 after acquiring an additional 256 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in shares of Suncor Energy during the 1st quarter valued at about $42,000. Institutional investors and hedge funds own 67.37% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Suncor Energy from a "buy" rating to a "hold" rating in a research report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $66.00.

Suncor Energy Price Performance

Shares of NYSE SU traded down $0.40 during trading on Friday, reaching $39.06. The company had a trading volume of 3,938,035 shares, compared to its average volume of 3,435,660. Suncor Energy Inc. has a 52 week low of $30.79 and a 52 week high of $41.94. The stock has a market cap of $47.57 billion, a PE ratio of 11.26, a PEG ratio of 3.44 and a beta of 0.84. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.39. The business's 50 day moving average price is $38.49 and its 200-day moving average price is $37.35.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. The business had revenue of $9.10 billion during the quarter, compared to the consensus estimate of $13.39 billion. Suncor Energy had a net margin of 11.95% and a return on equity of 14.90%. During the same period in the previous year, the firm posted $1.41 earnings per share. Analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th were issued a dividend of $0.4133 per share. This is an increase from Suncor Energy's previous quarterly dividend of $0.40. This represents a $1.65 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Wednesday, June 4th. Suncor Energy's dividend payout ratio is presently 47.84%.

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.