Assetmark Inc. lowered its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 92.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,366 shares of the oil and gas producer's stock after selling 43,084 shares during the quarter. Assetmark Inc.'s holdings in Suncor Energy were worth $130,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SU. Hanson & Doremus Investment Management increased its holdings in shares of Suncor Energy by 143.5% in the 1st quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock valued at $31,000 after acquiring an additional 465 shares during the period. Salem Investment Counselors Inc. increased its holdings in shares of Suncor Energy by 97.6% in the 1st quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock valued at $32,000 after acquiring an additional 405 shares during the period. Covestor Ltd increased its holdings in shares of Suncor Energy by 30.5% in the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock valued at $39,000 after acquiring an additional 256 shares during the period. Wayfinding Financial LLC acquired a new position in shares of Suncor Energy in the 1st quarter valued at $42,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of Suncor Energy in the 1st quarter valued at $44,000. Institutional investors and hedge funds own 67.37% of the company's stock.
Suncor Energy Stock Performance
Shares of SU opened at $39.06 on Monday. 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 has a market capitalization of $47.57 billion, a P/E ratio of 11.26, a P/E/G ratio of 3.44 and a beta of 0.84. The company's fifty day moving average is $38.49 and its two-hundred day moving average is $37.35. Suncor Energy Inc. has a 1 year low of $30.79 and a 1 year high of $41.94.
Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced 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. The company had revenue of $9.10 billion for the quarter, compared to analysts' expectations 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 previous year, the company posted $1.41 EPS. On average, sell-side analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current year.
Suncor Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th were paid a $0.4133 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.65 annualized dividend and a yield of 4.2%. This is an increase from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's dividend payout ratio is presently 47.84%.
Wall Street Analyst Weigh In
Separately, Wall Street Zen cut shares of Suncor Energy from a "buy" rating to a "hold" rating in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $66.00.
Check Out Our Latest Stock Report on Suncor Energy
About Suncor Energy
(
Free Report)
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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