Cardinal Capital Management Inc. Sells 140,650 Shares of Suncor Energy Inc. $SU

Key Points

• Cardinal Capital trimmed its stake in Suncor Energy by 3.9% in Q4, selling 140,650 shares and leaving it with 3,500,373 shares worth about $155.3 million.
• Suncor beat quarterly EPS estimates ($0.79 vs. $0.77) while missing revenue slightly ($8.77B), and recently paid a quarterly dividend of $0.60 (annualized $2.40, yield ~3.8% with a DPR of ~50.7%).
• Wall Street sentiment has turned positive with several upgrades and higher price targets (RBC to $89, Goldman to $73, JPMorgan to overweight), leaving an average analyst price target of about $72 for the stock (market cap ~$75.2B, 12‑month range ~$31.64–$67.76).

Cardinal Capital Management Inc. lessened its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,500,373 shares of the oil and gas producer's stock after selling 140,650 shares during the quarter. Suncor Energy makes up about 0.0% of Cardinal Capital Management Inc.'s holdings, making the stock its 16th largest position. Cardinal Capital Management Inc. owned approximately 0.29% of Suncor Energy worth $155,277,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Richardson Financial Services Inc. lifted its holdings in shares of Suncor Energy by 64.1% in the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer's stock valued at $29,000 after purchasing an additional 275 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Suncor Energy in the second quarter valued at approximately $31,000. Hanson & Doremus Investment Management lifted its holdings in shares of Suncor Energy by 143.5% in the third quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock valued at $33,000 after purchasing an additional 465 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Suncor Energy by 95.8% in the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer's stock valued at $33,000 after purchasing an additional 388 shares in the last quarter. Finally, Maseco LLP bought a new position in shares of Suncor Energy in the fourth quarter valued at approximately $39,000. Institutional investors own 67.37% of the company's stock.

Suncor Energy Stock Performance

Shares of SU opened at $63.39 on Friday. The company has a current ratio of 1.39, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $75.23 billion, a price-to-earnings ratio of 18.27 and a beta of 0.32. The stock has a 50 day moving average of $59.15 and a 200 day moving average of $49.07. Suncor Energy Inc. has a 12 month low of $31.64 and a 12 month high of $67.76.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.02. The company had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.79 billion. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.During the same period last year, the business posted $1.25 earnings per share. As a group, sell-side analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Wednesday, March 4th. Suncor Energy's dividend payout ratio (DPR) is presently 50.72%.

Wall Street Analyst Weigh In

SU has been the topic of a number of recent research reports. JPMorgan Chase & Co. upgraded Suncor Energy from a "neutral" rating to an "overweight" rating and raised their target price for the company from $46.15 to $54.00 in a report on Tuesday, January 20th. ATB Cormark Capital Markets upgraded Suncor Energy from a "hold" rating to a "moderate buy" rating in a report on Wednesday, April 1st. Royal Bank Of Canada raised their target price on Suncor Energy from $75.00 to $89.00 and gave the company an "outperform" rating in a report on Wednesday, April 1st. The Goldman Sachs Group raised their target price on Suncor Energy from $66.00 to $73.00 and gave the company a "buy" rating in a report on Wednesday, April 1st. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Suncor Energy in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $72.00.

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.

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