Suncor Energy Inc. $SU Shares Sold by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings reduced its Suncor Energy stake by 9.1% in the third quarter, selling 26,861 shares and retaining 267,633 shares worth approximately $18.2 million.
• Institutional ownership remains high at 67.37%, with several major investors—including Dimensional Fund Advisors, TD Waterhouse Canada, and Bank of America—adding to their positions.
• Analysts maintain a favorable outlook, with Suncor carrying a consensus “Buy” rating and a $79.62 price target. The company also reported stronger-than-expected quarterly earnings and pays an annualized dividend of C$2.40, yielding about 3.0%.

Crossmark Global Holdings Inc. decreased its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 9.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 267,633 shares of the oil and gas producer's stock after selling 26,861 shares during the period. Crossmark Global Holdings Inc.'s holdings in Suncor Energy were worth $18,164,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its stake in shares of Suncor Energy by 255.0% during the 2nd quarter. HighTower Advisors LLC now owns 78,316 shares of the oil and gas producer's stock valued at $4,204,000 after buying an additional 56,254 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Suncor Energy by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer's stock worth $833,622,000 after buying an additional 411,243 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Suncor Energy by 6.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 846,111 shares of the oil and gas producer's stock worth $55,802,000 after buying an additional 50,502 shares during the period. TD Waterhouse Canada Inc. boosted its holdings in Suncor Energy by 2.1% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 11,657,514 shares of the oil and gas producer's stock worth $625,497,000 after buying an additional 239,208 shares during the period. Finally, Bank of America Corp DE purchased a new stake in Suncor Energy in the 2nd quarter worth $351,892,000. Institutional investors own 67.37% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on SU. Weiss Ratings raised Suncor Energy from a "buy (b)" rating to a "buy (a-)" rating in a report on Thursday, October 8th. Desjardins upgraded Suncor Energy to a "moderate buy" rating in a research report on Thursday, July 16th. Scotiabank upgraded Suncor Energy to a "strong-buy" rating in a research report on Friday, June 26th. Wall Street Zen raised Suncor Energy from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 17th. Finally, Morgan Stanley set a $106.00 target price on Suncor Energy in a research report on Wednesday, August 19th. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $79.62.

Suncor Energy Trading Up 0.7%

Suncor Energy stock opened at $78.97 on Thursday. The stock has a market cap of $92.37 billion, a P/E ratio of 14.01, a PEG ratio of 0.52 and a beta of 0.36. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08. Suncor Energy Inc. has a 1 year low of $38.34 and a 1 year high of $79.77. The firm's 50 day moving average price is $69.49 and its 200-day moving average price is $65.05.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, topping the consensus estimate of $2.14 by $0.19. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. The firm had revenue of $13.41 billion for the quarter, compared to the consensus estimate of $11.68 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. On average, equities analysts predict that Suncor Energy Inc. will post 8.12 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were issued a C$0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Friday, September 4th. Suncor Energy's payout ratio is currently 31.86%.

About Suncor Energy

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta, Canada. Its operations span the energy value chain, including the development, production, upgrading, refining, and marketing of crude oil and petroleum products.

The company is one of Canada's major oil sands producers, with interests in mining and in situ oil sands projects. Suncor produces bitumen and synthetic crude oil and also has conventional oil and offshore production interests. Its upstream portfolio includes operated and non-operated assets in Canada.

Through its downstream operations, Suncor refines crude oil into gasoline, diesel, jet fuel, asphalt, and other petroleum products.

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