Suncor Energy Inc. $SU Shares Sold by State of Wyoming

Key Points

• State of Wyoming cut its Suncor Energy stake by 81.7% in the first quarter, selling 18,240 shares and retaining 4,088 shares valued at approximately $270,000.
• Institutional sentiment was mixed but largely positive: several major investors increased their holdings, and institutional investors collectively own 67.37% of Suncor’s stock.
• Analysts maintain a consensus “Buy” rating with an average price target of $71.67. Suncor also pays a quarterly dividend of $0.60 per share, equivalent to a 3.7% annualized yield.

State of Wyoming decreased its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 81.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,088 shares of the oil and gas producer's stock after selling 18,240 shares during the period. State of Wyoming's holdings in Suncor Energy were worth $270,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Intact Investment Management Inc. raised its stake in shares of Suncor Energy by 36.3% in the 4th quarter. Intact Investment Management Inc. now owns 1,695,160 shares of the oil and gas producer's stock valued at $75,236,000 after acquiring an additional 451,110 shares during the period. Harvest Portfolios Group Inc. boosted its position in Suncor Energy by 9.1% during the 4th quarter. Harvest Portfolios Group Inc. now owns 360,668 shares of the oil and gas producer's stock worth $16,008,000 after purchasing an additional 30,210 shares during the period. Vanguard Group Inc. increased its holdings in Suncor Energy by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer's stock valued at $2,473,173,000 after purchasing an additional 1,166,405 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Suncor Energy by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer's stock valued at $833,622,000 after purchasing an additional 411,243 shares during the period. Finally, Pictet Asset Management Holding SA raised its position in Suncor Energy by 3.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 431,007 shares of the oil and gas producer's stock valued at $19,155,000 after purchasing an additional 15,332 shares during the period. Institutional investors and hedge funds own 67.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SU. Desjardins upgraded Suncor Energy to a "moderate buy" rating in a research note on Thursday, July 16th. Royal Bank Of Canada raised their target price on Suncor Energy from $75.00 to $89.00 and gave the company an "outperform" rating in a report on Wednesday, April 1st. Zacks Research raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. Wall Street Zen upgraded 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 report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Suncor Energy has a consensus rating of "Buy" and an average target price of $71.67.

Suncor Energy Price Performance

SU stock opened at $64.01 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. Suncor Energy Inc. has a 52-week low of $37.76 and a 52-week high of $70.29. The stock's 50 day moving average is $60.68 and its two-hundred day moving average is $59.74. The company has a market capitalization of $75.58 billion, a PE ratio of 16.80, a P/E/G ratio of 0.48 and a beta of 0.30.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its 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). 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 analyst estimates of $9.22 billion. During the same period in the previous year, the company earned $1.31 earnings per share. Analysts predict that Suncor Energy Inc. will post 7.11 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders 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 yield of 3.7%. The ex-dividend date was Thursday, June 4th. Suncor Energy's dividend payout ratio is 45.67%.

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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