Locust Wood Capital Advisers LLC Sells 298,980 Shares of Suncor Energy Inc. (NYSE:SU)

Key Points

• Locust Wood Capital Advisers LLC reduced its stake in Suncor Energy by 10.9%, now holding 2,441,657 shares valued at approximately $94.5 million.
• Despite the sell-off by Locust Wood, other institutional investors like Hanson & Doremus and Salem Investment Counselors significantly increased their holdings in Suncor Energy during the same period.
• Suncor Energy's recent quarterly earnings beat expectations, with the company reporting $0.51 earnings per share, and it also announced a slight dividend increase with a yield of 4.2%.

Locust Wood Capital Advisers LLC reduced its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 10.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,441,657 shares of the oil and gas producer's stock after selling 298,980 shares during the period. Suncor Energy accounts for approximately 3.0% of Locust Wood Capital Advisers LLC's holdings, making the stock its 15th largest holding. Locust Wood Capital Advisers LLC owned about 0.20% of Suncor Energy worth $94,541,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. WealthPlan Investment Management LLC acquired a new position in Suncor Energy during the first quarter valued at approximately $764,000. Maryland State Retirement & Pension System increased its position in shares of Suncor Energy by 20.0% in the 1st quarter. Maryland State Retirement & Pension System now owns 286,710 shares of the oil and gas producer's stock valued at $11,099,000 after buying an additional 47,825 shares in the last quarter. Ontario Teachers Pension Plan Board increased its position in shares of Suncor Energy by 18.5% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 272,772 shares of the oil and gas producer's stock valued at $10,563,000 after buying an additional 42,593 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Suncor Energy by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,497,006 shares of the oil and gas producer's stock worth $174,102,000 after buying an additional 39,681 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Suncor Energy by 83.6% in the first quarter. Goldman Sachs Group Inc. now owns 12,426,008 shares of the oil and gas producer's stock worth $481,135,000 after acquiring an additional 5,658,880 shares in the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen cut Suncor Energy from a "buy" rating to a "hold" rating in a report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Suncor Energy presently has a consensus rating of "Moderate Buy" and an average price target of $66.00.

Suncor Energy Stock Up 0.4%

Shares of NYSE:SU traded up $0.16 during mid-day trading on Friday, reaching $39.19. 3,738,487 shares of the stock were exchanged, compared to its average volume of 3,378,244. The company has a market cap of $47.73 billion, a P/E ratio of 12.06, a P/E/G ratio of 3.45 and a beta of 0.84. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $41.94. The stock's 50 day simple moving average is $38.83 and its 200-day simple moving average is $37.36. The company has a quick ratio of 0.84, a current ratio of 1.26 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. The business had revenue of $8.81 billion during the quarter, compared to analysts' expectations of $11.56 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same quarter in the prior year, the company posted $1.27 earnings per share. As a group, equities research analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a $0.4135 dividend. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Thursday, September 4th. Suncor Energy's dividend payout ratio (DPR) is presently 50.46%.

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.