Crossmark Global Holdings Inc. Sells 20,563 Shares of Suncor Energy Inc. $SU

Key Points

• Crossmark Global Holdings reduced its stake in Suncor Energy by 6.2% in the fourth quarter, selling 20,563 shares and leaving it with 309,127 shares valued at about $13.7 million.
• Suncor Energy reported Q1 earnings of $1.41 per share, missing analysts’ estimate by $0.04, but revenue came in above expectations at $10.41 billion.
• The company announced a quarterly dividend of $0.60 per share, equal to an annualized yield of 3.8%, while analysts remain broadly positive with a consensus Buy rating and an average target price of $72.00.

Crossmark Global Holdings Inc. trimmed its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 6.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 309,127 shares of the oil and gas producer's stock after selling 20,563 shares during the period. Crossmark Global Holdings Inc.'s holdings in Suncor Energy were worth $13,713,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC increased its position in shares of Suncor Energy by 14.2% during 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 in the last quarter. Geneos Wealth Management Inc. increased 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 worth $77,000 after purchasing an additional 1,254 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Suncor Energy by 21.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer's stock worth $100,000 after purchasing an additional 464 shares in the last quarter. AXA S.A. increased its position in shares of Suncor Energy by 17.2% during the 2nd quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer's stock worth $1,883,000 after purchasing an additional 7,395 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Suncor Energy by 6.4% during the 2nd quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer's stock worth $2,514,000 after purchasing an additional 4,043 shares in the last quarter. 67.37% of the stock is owned by institutional investors.

Suncor Energy Stock Up 0.4%

Shares of NYSE SU opened at $64.00 on Friday. The firm has a market capitalization of $75.78 billion, a PE ratio of 16.80 and a beta of 0.31. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. Suncor Energy Inc. has a 1 year low of $34.48 and a 1 year high of $70.29. The firm's 50-day moving average is $62.62 and its 200-day moving average is $52.17.

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 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.04). The business had revenue of $10.41 billion during 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 period last year, the business posted $1.31 EPS. Equities analysts expect that Suncor Energy Inc. will post 6.34 EPS for the current year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.8%. Suncor Energy's payout ratio is presently 46.19%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Zacks Research upgraded shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 2nd. The Goldman Sachs Group increased their target price on shares of Suncor Energy from $66.00 to $73.00 and gave the stock a "buy" rating in a research report on Wednesday, April 1st. Royal Bank Of Canada increased their target price on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 1st. Wall Street Zen upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, ATB Cormark Capital Markets upgraded shares of Suncor Energy from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $72.00.

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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