Suncor Energy Inc. $SU Shares Sold by Fairbanks Capital Management Inc.

Fairbanks Capital Management Inc. cut its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 22.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,479 shares of the oil and gas producer's stock after selling 27,167 shares during the quarter. Suncor Energy makes up about 3.8% of Fairbanks Capital Management Inc.'s holdings, making the stock its 10th biggest position. Fairbanks Capital Management Inc.'s holdings in Suncor Energy were worth $6,048,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC grew its holdings in Suncor Energy by 14.2% in the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer's stock valued at $959,000 after buying an additional 3,115 shares during the last quarter. 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 buying an additional 1,254 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Suncor Energy by 21.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer's stock valued at $100,000 after acquiring an additional 464 shares during the period. AXA S.A. grew its stake in shares of Suncor Energy by 17.2% in the second quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer's stock worth $1,883,000 after acquiring an additional 7,395 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in 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 acquiring an additional 4,043 shares during the period. Institutional investors own 67.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Weiss Ratings lowered shares of Suncor Energy from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, July 14th. 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 research note on Wednesday, April 1st. Desjardins raised Suncor Energy to a "moderate buy" rating in a report on Thursday, July 16th. Scotiabank raised Suncor Energy to a "strong-buy" rating in a report on Friday, June 26th. Finally, The Goldman Sachs Group cut Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 price objective on the stock. in a research report on Friday, June 5th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Suncor Energy currently has a consensus rating of "Buy" and an average price target of $71.67.

Suncor Energy Stock Up 1.7%

NYSE SU opened at $64.75 on Thursday. 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 52 week low of $37.76 and a 52 week high of $70.29. The stock has a market capitalization of $76.46 billion, a P/E ratio of 17.00 and a beta of 0.30. The stock has a fifty day moving average of $60.97 and a 200-day moving average of $59.19.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The business had revenue of $10.41 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the business posted $1.31 EPS. On average, equities research analysts forecast that Suncor Energy Inc. will post 6.9 EPS for the current year.

Suncor Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were paid a $0.60 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $2.40 annualized dividend and a yield of 3.7%. Suncor Energy's dividend 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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