Massachusetts Financial Services Co. MA Cuts Position in Suncor Energy Inc. (NYSE:SU)

Massachusetts Financial Services Co. MA cut its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 8.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,320,772 shares of the oil and gas producer's stock after selling 1,987,283 shares during the period. Massachusetts Financial Services Co. MA owned 1.73% of Suncor Energy worth $825,540,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SU. Atria Investments Inc raised its holdings in shares of Suncor Energy by 6.0% in the 4th quarter. Atria Investments Inc now owns 10,799 shares of the oil and gas producer's stock worth $385,000 after purchasing an additional 608 shares during the period. Proficio Capital Partners LLC bought a new position in Suncor Energy in the fourth quarter valued at $5,762,000. Raymond James Financial Inc. bought a new position in Suncor Energy in the fourth quarter valued at $18,829,000. Wealthfront Advisers LLC bought a new position in Suncor Energy in the fourth quarter valued at $436,000. Finally, HighTower Advisors LLC increased its stake in Suncor Energy by 2.3% in the fourth quarter. HighTower Advisors LLC now owns 34,012 shares of the oil and gas producer's stock valued at $1,214,000 after acquiring an additional 763 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company's stock.

Analyst Ratings Changes

SU has been the topic of a number of research analyst reports. Scotiabank raised Suncor Energy to a "hold" rating in a research note on Wednesday, March 19th. Wall Street Zen downgraded shares of Suncor Energy from a "buy" rating to a "hold" rating in a research note on Thursday, April 17th. Four analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $67.00.

Suncor Energy Trading Down 0.7%

Shares of NYSE:SU traded down $0.26 during midday trading on Thursday, hitting $38.90. 1,336,817 shares of the stock traded hands, compared to its average volume of 4,465,109. The stock has a market capitalization of $47.55 billion, a PE ratio of 11.21, a P/E/G ratio of 3.38 and a beta of 0.80. The business's 50 day moving average is $37.56 and its two-hundred day moving average is $37.22. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.21. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $41.95.

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

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th were paid a $0.4133 dividend. This is an increase from Suncor Energy's previous quarterly dividend of $0.40. This represents a $1.65 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend was Wednesday, June 4th. Suncor Energy's dividend payout ratio is presently 47.84%.

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.