Suncor Energy Inc. $SU Shares Sold by Easterly Investment Partners LLC

Key Points

• Easterly Investment Partners LLC cut its Suncor Energy stake by 31.3% in the fourth quarter, selling 49,401 shares and leaving it with 108,477 shares valued at about $4.81 million.
• Suncor Energy reported mixed quarterly results: EPS of $1.41 missed estimates, while revenue of $10.41 billion topped expectations.
• The company declared a quarterly dividend of $0.60 per share, equal to a 3.9% annualized yield, and analysts currently rate the stock a consensus Buy with a target price of $72.00.

Easterly Investment Partners LLC decreased its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 31.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 108,477 shares of the oil and gas producer's stock after selling 49,401 shares during the quarter. Easterly Investment Partners LLC's holdings in Suncor Energy were worth $4,812,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SU. AQR Capital Management LLC lifted its holdings in shares of Suncor Energy by 14.2% during the first quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer's stock worth $959,000 after purchasing an additional 3,115 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Suncor Energy by 172.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer's stock worth $77,000 after purchasing an additional 1,254 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Suncor Energy by 21.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer's stock worth $100,000 after purchasing an additional 464 shares during the period. AXA S.A. lifted its holdings in shares of Suncor Energy by 17.2% during the second quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer's stock worth $1,883,000 after purchasing an additional 7,395 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in shares of Suncor Energy by 6.4% during the second quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer's stock worth $2,514,000 after purchasing an additional 4,043 shares during the period. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Stock Down 0.0%

Shares of SU opened at $62.34 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42. Suncor Energy Inc. has a one year low of $35.29 and a one year high of $70.29. The stock has a market capitalization of $73.60 billion, a price-to-earnings ratio of 16.36 and a beta of 0.27. The stock has a 50 day moving average price of $65.25 and a 200 day moving average price of $55.12.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.04). Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.The firm had revenue of $10.41 billion for the quarter, compared to analysts' expectations of $9.22 billion. During the same quarter in the previous year, the firm posted $1.31 earnings per share. Equities research analysts forecast that Suncor Energy Inc. will post 7.07 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Thursday, June 4th. Suncor Energy's payout ratio is presently 46.19%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SU shares. ATB Cormark Capital Markets raised Suncor Energy from a "hold" rating to a "moderate buy" rating in a report on Wednesday, April 1st. The Goldman Sachs Group lifted their target price on Suncor Energy from $66.00 to $73.00 and gave the stock a "buy" rating in a report on Wednesday, April 1st. Weiss Ratings raised Suncor Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. Royal Bank Of Canada boosted 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. Finally, Wall Street Zen raised Suncor Energy from a "buy" rating to a "strong-buy" rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Suncor Energy has a consensus rating of "Buy" and a consensus target price of $72.00.

About Suncor Energy

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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