Check Capital Management Inc. CA Sells 851,419 Shares of Suncor Energy Inc. $SU

Key Points

• Check Capital Management Inc. has reduced its stake in Suncor Energy by 50.3%, selling 851,419 shares during the second quarter, which leaves it holding approximately 841,456 shares valued at about $31.5 million.
• A number of institutional investors have increased their holdings in Suncor Energy, with notable increases from organizations like IFP Advisors Inc. and Salem Investment Counselors Inc..
• Suncor Energy declared a quarterly dividend of $0.4135 per share, an increase from its previous dividend, with a current yield of 4.2%.

Check Capital Management Inc. CA trimmed its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 50.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 841,456 shares of the oil and gas producer's stock after selling 851,419 shares during the period. Suncor Energy accounts for about 1.1% of Check Capital Management Inc. CA's investment portfolio, making the stock its 11th biggest holding. Check Capital Management Inc. CA owned approximately 0.07% of Suncor Energy worth $31,513,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SU. Ascent Group LLC grew its holdings in Suncor Energy by 4.7% during the second quarter. Ascent Group LLC now owns 5,769 shares of the oil and gas producer's stock valued at $216,000 after purchasing an additional 260 shares during the period. IFP Advisors Inc grew its holdings in Suncor Energy by 27.6% during the second quarter. IFP Advisors Inc now owns 1,428 shares of the oil and gas producer's stock valued at $53,000 after purchasing an additional 309 shares during the period. Sagespring Wealth Partners LLC grew its holdings in Suncor Energy by 5.8% during the first quarter. Sagespring Wealth Partners LLC now owns 6,065 shares of the oil and gas producer's stock valued at $235,000 after purchasing an additional 332 shares during the period. Winthrop Capital Management LLC grew its holdings in Suncor Energy by 2.6% during the first quarter. Winthrop Capital Management LLC now owns 13,654 shares of the oil and gas producer's stock valued at $529,000 after purchasing an additional 352 shares during the period. Finally, Salem Investment Counselors Inc. grew its holdings in Suncor Energy by 97.6% during the first quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 405 shares during the period. 67.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

SU has been the subject of a number of analyst reports. Weiss Ratings restated a "hold (c+)" rating on shares of Suncor Energy in a report on Wednesday. Royal Bank Of Canada reissued an "outperform" rating and set a $65.00 price objective on shares of Suncor Energy in a research report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Suncor Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.00.

Suncor Energy Stock Performance

Shares of SU stock opened at $39.53 on Friday. The stock has a market cap of $47.79 billion, a P/E ratio of 12.16, a P/E/G ratio of 3.20 and a beta of 0.78. The company has a fifty day moving average price of $40.70 and a two-hundred day moving average price of $38.25. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $43.48. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. The company had revenue of $8.81 billion for the quarter, compared to analyst estimates of $11.56 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same period in the prior year, the firm earned $1.27 earnings per share. As a group, equities analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 4th were given a dividend of $0.4135 per share. This is a positive change from Suncor Energy's previous quarterly dividend of $0.41. This represents a $1.65 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Thursday, September 4th. Suncor Energy's payout ratio is 51.08%.

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.

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