Suncor Energy Inc. $SU Shares Sold by Recurrent Investment Advisors LLC

Key Points

• Recurrent Investment Advisors reduced its Suncor Energy stake by 13.9%, selling 245,227 shares and retaining 1.52 million shares valued at approximately $101.9 million. Institutional investors and hedge funds collectively own 67.37% of the company.
• Suncor reported quarterly EPS of $1.41, slightly below analysts’ $1.45 estimate, while revenue of $10.41 billion exceeded the $9.22 billion forecast. The company also maintains a quarterly dividend of $0.60 per share, representing a 3.7% annualized yield.
• Analyst sentiment remains positive, with Suncor holding a consensus “Buy” rating and an average price target of $71.67, compared with the stock’s reported price of $64.01.

Recurrent Investment Advisors LLC decreased its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 13.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,515,161 shares of the oil and gas producer's stock after selling 245,227 shares during the quarter. Suncor Energy accounts for approximately 6.1% of Recurrent Investment Advisors LLC's portfolio, making the stock its 5th largest position. Recurrent Investment Advisors LLC owned about 0.13% of Suncor Energy worth $101,939,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in SU. Atlantic Edge Private Wealth Management LLC boosted its position in shares of Suncor Energy by 54.9% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer's stock worth $28,000 after buying an additional 225 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Suncor Energy in the 2nd quarter valued at $31,000. 1 North Wealth Services LLC purchased a new stake in shares of Suncor Energy in the 4th quarter valued at $32,000. Accent Capital Management LLC lifted its stake in Suncor Energy by 37.5% during the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer's stock worth $37,000 after acquiring an additional 225 shares in the last quarter. Finally, Maseco LLP acquired a new position in Suncor Energy during the 4th quarter worth about $39,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Trading Up 0.0%

SU opened at $64.01 on Wednesday. The business has a fifty day moving average price of $60.68 and a 200 day moving average price of $59.74. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. Suncor Energy Inc. has a 12 month low of $37.76 and a 12 month high of $70.29. The stock has a market capitalization of $75.58 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 0.48 and a beta of 0.30.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly 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 company had revenue of $10.41 billion during the quarter, compared to analyst estimates of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same period in the prior year, the business earned $1.31 EPS. Sell-side analysts expect that Suncor Energy Inc. will post 7.11 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 4th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Thursday, June 4th. Suncor Energy's dividend payout ratio is presently 45.67%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SU. ATB Cormark Capital Markets raised Suncor Energy from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, April 1st. The Goldman Sachs Group cut shares of Suncor Energy from a "buy" rating to a "neutral" rating and set a $72.00 price target on the stock. in a research report on Friday, June 5th. Royal Bank Of Canada raised their price objective on shares of Suncor Energy from $75.00 to $89.00 and gave the company an "outperform" rating in a research note on Wednesday, April 1st. Wall Street Zen upgraded shares of Suncor Energy from a "buy" rating to a "strong-buy" rating in a report on Sunday, July 12th. Finally, Weiss Ratings downgraded shares of Suncor Energy from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Suncor Energy currently has a consensus rating of "Buy" and a consensus price target of $71.67.

Suncor Energy 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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