Corient Private Wealth LLC Sells 238,141 Shares of Suncor Energy Inc. $SU

Key Points

• Corient Private Wealth LLC cut its Suncor Energy stake by 33% in the fourth quarter, selling 238,141 shares and leaving it with 482,627 shares valued at about $21.5 million.
• Suncor reported Q1 earnings of $1.41 per share, missing estimates by $0.04, even as revenue came in above expectations at $10.41 billion.
• The company declared a quarterly dividend of $0.60 per share, equal to $2.40 annually and a yield of about 4.3%.

Corient Private Wealth LLC decreased its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 33.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 482,627 shares of the oil and gas producer's stock after selling 238,141 shares during the quarter. Corient Private Wealth LLC's holdings in Suncor Energy were worth $21,468,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Suncor Energy by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer's stock valued at $2,473,173,000 after acquiring an additional 1,166,405 shares in the last quarter. Artisan Partners Limited Partnership increased its position in shares of Suncor Energy by 0.4% during the third quarter. Artisan Partners Limited Partnership now owns 33,868,775 shares of the oil and gas producer's stock valued at $1,417,029,000 after purchasing an additional 145,800 shares during the period. Dodge & Cox raised its holdings in shares of Suncor Energy by 0.3% in the 3rd quarter. Dodge & Cox now owns 27,471,954 shares of the oil and gas producer's stock worth $1,148,602,000 after buying an additional 70,300 shares in the last quarter. FIL Ltd raised its stake in Suncor Energy by 14.0% during the fourth quarter. FIL Ltd now owns 21,050,387 shares of the oil and gas producer's stock worth $934,312,000 after acquiring an additional 2,592,516 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Suncor Energy by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 19,371,704 shares of the oil and gas producer's stock valued at $860,933,000 after buying an additional 516,783 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Trading Up 1.5%

Shares of NYSE SU opened at $56.15 on Tuesday. Suncor Energy Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $70.29. The firm has a market capitalization of $66.30 billion, a P/E ratio of 14.74 and a beta of 0.27. 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 company's 50 day simple moving average is $63.90 and its 200 day simple moving average is $56.97.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.04). The business had revenue of $10.41 billion for the quarter, compared to the consensus estimate of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same quarter in the previous year, the firm posted $1.31 EPS. On average, analysts predict that Suncor Energy Inc. will post 7.07 EPS for the current year.

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be issued a $0.60 dividend. The ex-dividend date is Thursday, June 4th. This represents a $2.40 annualized dividend and a yield of 4.3%. Suncor Energy's dividend payout ratio (DPR) is 45.67%.

Analyst Upgrades and Downgrades

SU has been the subject of several research analyst reports. ATB Cormark Capital Markets upgraded Suncor Energy from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, April 1st. The Goldman Sachs Group lowered 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. Zacks Research cut Suncor Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, June 1st. Wall Street Zen lowered shares of Suncor Energy from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 7th. Finally, Weiss Ratings cut shares of Suncor Energy from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, June 3rd. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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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