Connor Clark & Lunn Investment Management Ltd. trimmed its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 2.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,878,076 shares of the oil and gas producer's stock after selling 254,736 shares during the period. Suncor Energy accounts for 1.7% of Connor Clark & Lunn Investment Management Ltd.'s portfolio, making the stock its 10th largest holding. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.80% of Suncor Energy worth $382,543,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Hanson & Doremus Investment Management lifted its position in Suncor Energy by 143.5% during the first quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock valued at $31,000 after purchasing an additional 465 shares during the last quarter. Salem Investment Counselors Inc. lifted its holdings in shares of 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 acquiring an additional 405 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in Suncor Energy in the 1st quarter worth about $36,000. Covestor Ltd increased its stake in Suncor Energy by 30.5% in the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock worth $39,000 after buying an additional 256 shares during the period. Finally, Wayfinding Financial LLC purchased a new position in Suncor Energy in the 1st quarter worth about $42,000. 67.37% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, Wall Street Zen downgraded shares of Suncor Energy from a "buy" rating to a "hold" rating in a research report on Thursday, April 17th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $66.00.
Get Our Latest Report on SU
Suncor Energy Stock Down 0.2%
Shares of Suncor Energy stock traded down $0.09 on Wednesday, reaching $38.75. The stock had a trading volume of 901,691 shares, compared to its average volume of 4,717,705. The company has a 50 day moving average price of $38.91 and a 200 day moving average price of $37.36. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19. Suncor Energy Inc. has a 1 year low of $30.79 and a 1 year high of $41.94. The stock has a market capitalization of $47.20 billion, a P/E ratio of 11.91, a P/E/G ratio of 3.34 and a beta of 0.84.
Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. The business had revenue of $8.81 billion during the quarter, compared to analysts' expectations of $11.56 billion. During the same period in the previous year, the business posted $1.27 EPS. As a group, equities research analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current year.
Suncor Energy Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be issued a $0.4135 dividend. This represents a $1.65 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Thursday, September 4th. This is a boost from Suncor Energy's previous quarterly dividend of $0.41. Suncor Energy's payout ratio is presently 50.46%.
About Suncor Energy
(
Free Report)
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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