Assenagon Asset Management S.A. Sells 1,837,721 Shares of Suncor Energy Inc. (NYSE:SU)

Assenagon Asset Management S.A. trimmed its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 53.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,631,287 shares of the oil and gas producer's stock after selling 1,837,721 shares during the period. Assenagon Asset Management S.A. owned approximately 0.13% of Suncor Energy worth $63,163,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. CHICAGO TRUST Co NA lifted its holdings in shares of Suncor Energy by 17.5% during the 1st quarter. CHICAGO TRUST Co NA now owns 11,833 shares of the oil and gas producer's stock valued at $458,000 after buying an additional 1,765 shares during the period. Park Avenue Securities LLC raised its holdings in Suncor Energy by 59.3% in the 1st quarter. Park Avenue Securities LLC now owns 31,543 shares of the oil and gas producer's stock worth $1,221,000 after purchasing an additional 11,745 shares during the period. First Financial Corp IN raised its holdings in Suncor Energy by 11.0% in the 1st quarter. First Financial Corp IN now owns 13,234 shares of the oil and gas producer's stock worth $512,000 after purchasing an additional 1,307 shares during the period. Unigestion Holding SA bought a new position in Suncor Energy in the 1st quarter worth $1,146,000. Finally, Merit Financial Group LLC raised its holdings in Suncor Energy by 14.1% in the 1st quarter. Merit Financial Group LLC now owns 9,429 shares of the oil and gas producer's stock worth $365,000 after purchasing an additional 1,165 shares during the period. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SU shares. Wall Street Zen cut Suncor Energy from a "buy" rating to a "hold" rating in a report on Thursday, April 17th. Scotiabank upgraded Suncor Energy to a "hold" rating in a research note on Wednesday, March 19th. Finally, Bank of America started coverage on Suncor Energy in a research note on Wednesday, February 26th. They issued a "neutral" rating for the company. 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 data from MarketBeat, Suncor Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.67.

Suncor Energy Price Performance

Shares of Suncor Energy stock traded up $1.83 during trading on Friday, reaching $40.92. 7,535,754 shares of the stock traded hands, compared to its average volume of 4,481,015. The company has a market capitalization of $50.25 billion, a price-to-earnings ratio of 11.86, a P/E/G ratio of 2.94 and a beta of 0.79. The business has a fifty day simple moving average of $35.50 and a two-hundred day simple moving average of $36.92. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86. Suncor Energy Inc. has a 52-week low of $30.79 and a 52-week 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. The firm had revenue of $9.10 billion during the quarter, compared to analyst estimates of $13.39 billion. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. During the same quarter last year, the business posted $1.41 earnings per share. Sell-side analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.4133 per share. This is a positive change from Suncor Energy's previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, June 4th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.04%. Suncor Energy's dividend payout ratio (DPR) is presently 47.55%.

About Suncor Energy

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.