Suncor Energy Inc. $SU Shares Sold by 111 Capital

Key Points

• 111 Capital reduced its holdings in Suncor Energy by 29.8% during the 2nd quarter, now owning 34,862 shares worth approximately $1.3 million.
• Notably, several hedge funds increased their stakes in Suncor, with Principal Financial Group Inc. upping its holdings by 65% in the 1st quarter, now owning over 16 million shares.
• Suncor Energy recently declared a quarterly dividend of $0.4135 per share, reflecting a 4.0% yield, which marks an increase from its previous dividend of $0.41.

111 Capital lessened its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 29.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,862 shares of the oil and gas producer's stock after selling 14,779 shares during the period. 111 Capital's holdings in Suncor Energy were worth $1,307,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Principal Financial Group Inc. increased its holdings in shares of Suncor Energy by 65.0% in the 1st quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer's stock valued at $620,136,000 after acquiring an additional 6,311,513 shares during the period. Mackenzie Financial Corp increased its stake in shares of Suncor Energy by 18.6% during the first quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer's stock worth $595,398,000 after acquiring an additional 2,410,857 shares during the period. Goldman Sachs Group Inc. increased its position in Suncor Energy by 83.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,426,008 shares of the oil and gas producer's stock worth $481,135,000 after purchasing an additional 5,658,880 shares during the period. Acadian Asset Management LLC grew its stake in shares of Suncor Energy by 12,290.9% during the 1st quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer's stock worth $480,760,000 after purchasing an additional 12,318,559 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Suncor Energy by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 11,272,827 shares of the oil and gas producer's stock worth $436,459,000 after buying an additional 290,900 shares during the period. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on SU shares. Weiss Ratings reissued a "hold (c+)" rating on shares of Suncor Energy in a report on Saturday, September 27th. Royal Bank Of Canada restated an "outperform" rating and set a $65.00 price objective on shares of Suncor Energy in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.00.

Suncor Energy Stock Performance

NYSE:SU opened at $41.36 on Friday. The firm's fifty day simple moving average is $40.59 and its 200 day simple moving average is $38.16. The firm has a market capitalization of $50.00 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 3.33 and a beta of 0.78. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $43.48. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly 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. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.The firm had revenue of $8.81 billion for the quarter, compared to analyst estimates of $11.56 billion. During the same period in the previous year, the company posted $1.27 EPS. As a group, equities research analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 4th were paid a $0.4135 dividend. This represents a $1.65 annualized dividend and a dividend yield of 4.0%. This is a positive change from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date was Thursday, September 4th. Suncor Energy's payout ratio is presently 51.08%.

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.

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