Independence Bank of Kentucky Reduces Position in Suncor Energy Inc. (NYSE:SU)

Independence Bank of Kentucky cut its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 63.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,597 shares of the oil and gas producer's stock after selling 13,265 shares during the quarter. Independence Bank of Kentucky's holdings in Suncor Energy were worth $294,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crowley Wealth Management Inc. acquired a new stake in Suncor Energy during the fourth quarter worth $35,000. Lee Danner & Bass Inc. purchased a new stake in shares of Suncor Energy during the fourth quarter worth $36,000. Golden State Wealth Management LLC purchased a new stake in Suncor Energy during the 4th quarter worth about $39,000. Covestor Ltd increased its stake in shares of Suncor Energy by 30.5% during the fourth 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, Stonebridge Financial Group LLC purchased a new stake in shares of Suncor Energy in the 4th quarter valued at approximately $45,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SU. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Monday, February 10th. Cibc World Mkts raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 11th. Scotiabank upgraded shares of Suncor Energy to a "hold" rating in a report on Wednesday, March 19th. Bank of America initiated coverage on Suncor Energy in a report on Wednesday, February 26th. They set a "neutral" rating for the company. Finally, Wall Street Zen cut Suncor Energy from a "buy" rating to a "hold" rating in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Suncor Energy has a consensus rating of "Moderate Buy" and an average price target of $64.67.

Suncor Energy Stock Performance

NYSE SU opened at $36.75 on Friday. The stock has a market cap of $45.12 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 2.94 and a beta of 0.79. The business has a fifty day moving average of $35.11 and a 200-day moving average of $36.97. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $41.95. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. The company had revenue of $9.10 billion during the quarter, compared to the consensus estimate of $13.39 billion. During the same period in the previous year, the firm posted $1.41 EPS. As a group, analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.4133 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.65 dividend on an annualized basis and a yield of 4.50%. This is an increase from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's dividend payout ratio (DPR) is currently 47.55%.

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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