Ritholtz Wealth Management Sells 21,573 Shares of Suncor Energy Inc. (NYSE:SU)

Ritholtz Wealth Management decreased its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 21.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,740 shares of the oil and gas producer's stock after selling 21,573 shares during the period. Ritholtz Wealth Management's holdings in Suncor Energy were worth $3,049,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Salem Investment Counselors Inc. raised its stake in Suncor Energy by 97.6% during the 1st quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 405 shares during the last quarter. Crowley Wealth Management Inc. bought a new position in shares of Suncor Energy during the 4th quarter worth about $35,000. Lee Danner & Bass Inc. acquired a new position in shares of Suncor Energy during the fourth quarter valued at about $36,000. Covestor Ltd raised its position 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 valued at $39,000 after buying an additional 256 shares during the last quarter. Finally, Private Trust Co. NA lifted its stake in shares of Suncor Energy by 50.2% in the fourth quarter. Private Trust Co. NA now owns 1,705 shares of the oil and gas producer's stock valued at $61,000 after buying an additional 570 shares during the period. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Price Performance

Shares of SU traded down $1.04 during mid-day trading on Thursday, reaching $40.00. The company had a trading volume of 11,316,864 shares, compared to its average volume of 4,446,514. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.39 and a quick ratio of 0.84. The company has a market capitalization of $48.90 billion, a P/E ratio of 11.53, a P/E/G ratio of 3.57 and a beta of 0.79. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $41.95. The company's 50-day moving average is $35.94 and its 200-day moving average is $36.94.

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

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be given a dividend of $0.4133 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.13%. This is a boost from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's dividend payout ratio (DPR) is 47.84%.

Wall Street Analyst Weigh In

SU has been the subject of several recent research reports. Bank of America began coverage on Suncor Energy in a report on Wednesday, February 26th. They issued a "neutral" rating for the company. Scotiabank upgraded Suncor Energy to a "hold" rating in a research report on Wednesday, March 19th. 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 assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently 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.