Suncor Energy Inc. $SU Shares Sold by Cannell & Spears LLC

Key Points

• Cannell & Spears LLC reduced its Suncor Energy stake by 63.8% in the first quarter, selling 20,300 shares and leaving it with 11,500 shares worth about $760,000.
• Analyst sentiment remains mostly positive, with Suncor holding an average “Buy” rating and a consensus price target of $71.67, though Goldman Sachs recently cut its view to neutral.
• Suncor reported Q1 EPS of $1.41, missing estimates but generating revenue of $10.41 billion; the company also paid a quarterly dividend of $0.60 per share, or 3.6% annualized yield.

Cannell & Spears LLC cut its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 63.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,500 shares of the oil and gas producer's stock after selling 20,300 shares during the quarter. Cannell & Spears LLC's holdings in Suncor Energy were worth $760,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SU. Atlantic Edge Private Wealth Management LLC grew its stake in shares of Suncor Energy by 54.9% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer's stock worth $28,000 after purchasing an additional 225 shares during the last quarter. 1 North Wealth Services LLC acquired a new stake in Suncor Energy during the fourth quarter valued at approximately $32,000. Cassaday & Co Wealth Management LLC acquired a new stake in Suncor Energy during the first quarter valued at approximately $53,000. Headlands Technologies LLC acquired a new stake in Suncor Energy during the second quarter valued at approximately $31,000. Finally, Accent Capital Management LLC grew its position in Suncor Energy by 37.5% in the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer's stock worth $37,000 after buying an additional 225 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SU shares. Royal Bank Of Canada upped their price target on Suncor Energy from $75.00 to $89.00 and gave the company an "outperform" rating in a report on Wednesday, April 1st. Wall Street Zen raised Suncor Energy from a "buy" rating to a "strong-buy" rating in a research note on Sunday, July 12th. ATB Cormark Capital Markets upgraded Suncor Energy from a "hold" rating to a "moderate buy" rating in a report on Wednesday, April 1st. The Goldman Sachs Group lowered Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 target price on the stock. in a research report on Friday, June 5th. Finally, Scotiabank raised Suncor Energy to a "strong-buy" rating in a report on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Suncor Energy presently has an average rating of "Buy" and a consensus target price of $71.67.

Suncor Energy Trading Down 0.9%

NYSE SU opened at $65.84 on Friday. Suncor Energy Inc. has a twelve month low of $37.76 and a twelve month high of $70.29. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42. The stock has a market cap of $77.74 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 0.49 and a beta of 0.30. The firm's 50 day moving average price is $60.91 and its two-hundred day moving average price is $59.38.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.45 by ($0.04). The business had revenue of $10.41 billion during the quarter, compared to analysts' expectations of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same quarter in the previous year, the company earned $1.31 EPS. Equities analysts anticipate that Suncor Energy Inc. will post 7.11 EPS for the current year.

Suncor Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 4th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, June 4th. Suncor Energy's payout ratio is presently 45.67%.

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company's operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.

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