Harvey Capital Management Inc. Has $439,000 Position in Suncor Energy Inc. (NYSE:SU)

Harvey Capital Management Inc. cut its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 40.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,325 shares of the oil and gas producer's stock after selling 7,825 shares during the quarter. Harvey Capital Management Inc.'s holdings in Suncor Energy were worth $439,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Suncor Energy by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 53,019,357 shares of the oil and gas producer's stock worth $1,892,526,000 after acquiring an additional 323,714 shares during the period. Artisan Partners Limited Partnership increased its position in Suncor Energy by 0.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 24,289,019 shares of the oil and gas producer's stock worth $865,885,000 after acquiring an additional 169,700 shares during the period. Massachusetts Financial Services Co. MA increased its position in Suncor Energy by 0.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 23,308,055 shares of the oil and gas producer's stock worth $831,631,000 after acquiring an additional 209,447 shares during the period. Toronto Dominion Bank grew its holdings in shares of Suncor Energy by 3.0% during the 4th quarter. Toronto Dominion Bank now owns 19,098,225 shares of the oil and gas producer's stock worth $680,847,000 after purchasing an additional 552,018 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Suncor Energy by 65.0% in the first quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer's stock valued at $620,136,000 after purchasing an additional 6,311,513 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Stock Up 1.1%

SU traded up $0.44 on Wednesday, hitting $39.26. 5,501,362 shares of the company were exchanged, compared to its average volume of 4,465,210. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.39. The stock's fifty day moving average is $37.03 and its 200-day moving average is $37.06. The company has a market cap of $48.00 billion, a PE ratio of 11.31, a PEG ratio of 3.14 and a beta of 0.80. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $41.95.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.05. Suncor Energy had a return on equity of 14.90% and a net margin of 11.95%. The firm had revenue of $9.10 billion for the quarter, compared to analyst estimates of $13.39 billion. During the same quarter in the prior year, the company earned $1.41 earnings per share. Equities research analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th were given a $0.4133 dividend. This is an increase from Suncor Energy's previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, June 4th. This represents a $1.65 annualized dividend and a dividend yield of 4.21%. Suncor Energy's dividend payout ratio is presently 47.55%.

Analysts Set New Price Targets

SU has been the topic of several analyst reports. Scotiabank upgraded Suncor Energy to a "hold" rating in a research note on Wednesday, March 19th. Wall Street Zen cut Suncor Energy from a "buy" rating to a "hold" rating in a research note on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $64.67.

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.