Cetera Investment Advisers Decreases Stock Holdings in Suncor Energy Inc. $SU

Key Points

• Cetera Investment Advisers reduced its Suncor Energy stake by 15.2% in the first quarter, selling 17,392 shares and retaining 97,079 shares valued at approximately $6.4 million. Other institutional investors increased their positions, with institutions collectively owning 67.37% of the company.
• Suncor shares were trading at $67.22, near their 52-week high, while the company reported quarterly revenue of $10.41 billion but missed earnings estimates by $0.04 per share.
• Suncor declared a quarterly dividend of $0.60 per share, representing a 3.6% annualized yield. Analysts maintain an overall “Buy” rating with a consensus price target of $71.67.

Cetera Investment Advisers cut its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 15.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,079 shares of the oil and gas producer's stock after selling 17,392 shares during the quarter. Cetera Investment Advisers' holdings in Suncor Energy were worth $6,418,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in shares of Suncor Energy by 14.2% in the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer's stock worth $959,000 after purchasing an additional 3,115 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Suncor Energy by 172.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer's stock valued at $77,000 after buying an additional 1,254 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Suncor Energy by 21.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer's stock worth $100,000 after acquiring an additional 464 shares during the last quarter. AXA S.A. raised its stake in Suncor Energy by 17.2% in the 2nd quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer's stock valued at $1,883,000 after acquiring an additional 7,395 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in Suncor Energy by 6.4% during the second quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer's stock valued at $2,514,000 after purchasing an additional 4,043 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company's stock.

Suncor Energy Trading Up 0.7%

Shares of SU opened at $67.22 on Friday. Suncor Energy Inc. has a 1-year low of $37.76 and a 1-year high of $70.29. The company has a market capitalization of $79.37 billion, a P/E ratio of 17.64, a P/E/G ratio of 0.50 and a beta of 0.30. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. The firm's 50 day simple moving average is $60.62 and its 200 day simple moving average is $60.08.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing analysts' consensus estimates of $1.45 by ($0.04). Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.The company had revenue of $10.41 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the previous year, the company earned $1.31 EPS. Sell-side analysts forecast that Suncor Energy Inc. will post 7.11 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, June 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.6%. Suncor Energy's dividend payout ratio is 45.67%.

Wall Street Analyst Weigh In

A number of analysts recently commented on SU shares. Zacks Research upgraded shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 6th. Scotiabank raised Suncor Energy to a "strong-buy" rating in a report on Friday, June 26th. Desjardins upgraded Suncor Energy to a "moderate buy" rating in a research note on Thursday, July 16th. The Goldman Sachs Group downgraded Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 target price for the company. in a research note on Friday, June 5th. Finally, Wall Street Zen cut Suncor Energy from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $71.67.

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.

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