Suncor Energy Inc. $SU Shares Sold by Royal Fund Management LLC

Key Points

• Royal Fund Management LLC cut its stake in Suncor Energy by 35.1% in Q4, selling 32,056 shares and now holding 59,287 shares valued at about $2.63 million; overall institutional ownership is ~67.37%.
• Several analysts moved more bullish — notably RBC raised its target to $75 (outperform) and JPMorgan upgraded to overweight with a $54 target — leaving a MarketBeat consensus of Moderate Buy and an average price target of $63.67.
• Suncor reported Q EPS of $0.79 (beating estimates by $0.02) on $8.77B revenue and pays a quarterly dividend of $0.60 (annualized $2.40) for a yield of about 3.6%.

Royal Fund Management LLC cut its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 35.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,287 shares of the oil and gas producer's stock after selling 32,056 shares during the quarter. Royal Fund Management LLC's holdings in Suncor Energy were worth $2,630,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. TrueMark Investments LLC boosted its position in Suncor Energy by 14.9% during the 4th quarter. TrueMark Investments LLC now owns 42,841 shares of the oil and gas producer's stock valued at $1,900,000 after purchasing an additional 5,559 shares during the period. Baron Wealth Management LLC grew its stake in Suncor Energy by 4.2% during the 4th quarter. Baron Wealth Management LLC now owns 11,342 shares of the oil and gas producer's stock worth $503,000 after buying an additional 459 shares during the last quarter. Kathmere Capital Management LLC increased its position in Suncor Energy by 8.1% in the fourth quarter. Kathmere Capital Management LLC now owns 11,144 shares of the oil and gas producer's stock worth $494,000 after buying an additional 833 shares during the period. Mayflower Financial Advisors LLC acquired a new stake in Suncor Energy in the fourth quarter worth $404,000. Finally, 180 Wealth Advisors LLC lifted its stake in Suncor Energy by 4.4% in the fourth quarter. 180 Wealth Advisors LLC now owns 15,208 shares of the oil and gas producer's stock valued at $675,000 after buying an additional 644 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SU. Royal Bank Of Canada boosted their price target on shares of Suncor Energy from $69.00 to $75.00 and gave the company an "outperform" rating in a report on Thursday, February 5th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Suncor Energy in a report on Monday, December 29th. Zacks Research downgraded shares of Suncor Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 20th. Wall Street Zen lowered shares of Suncor Energy from a "buy" rating to a "hold" rating in a research note on Sunday, December 28th. Finally, JPMorgan Chase & Co. upgraded shares of Suncor Energy from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $46.15 to $54.00 in a research report on Tuesday, January 20th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $63.67.

Suncor Energy Trading Down 1.0%

Shares of SU stock opened at $65.97 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.39. Suncor Energy Inc. has a 1 year low of $30.79 and a 1 year high of $67.76. The stock has a fifty day moving average of $56.88 and a two-hundred day moving average of $47.86. The firm has a market capitalization of $78.50 billion, a PE ratio of 19.01 and a beta of 0.42.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.02. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.The company had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.79 billion. During the same period last year, the company earned $1.25 earnings per share. As a group, research analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Wednesday, March 4th. Suncor Energy's dividend payout ratio is currently 50.72%.

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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