Swiss National Bank Sells 227,700 Shares of Suncor Energy Inc. $SU

Key Points

• Swiss National Bank cut its stake in Suncor by 6.1%, selling 227,700 shares in Q3 and leaving 3,531,892 shares valued at about $147.9 million (≈0.29% of the company).
• Suncor declared a quarterly dividend of $0.60 per share (ex-dividend March 4, paid March 25), which annualizes to $2.40 and implies a 4.2% yield with a payout ratio around 50.7%.
• The company beat EPS estimates ($0.79 vs. $0.77) while revenue slightly missed, and analysts maintain a “Moderate Buy” consensus with an average price target of $61 as several firms raised targets/ratings.

Swiss National Bank cut its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 6.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,531,892 shares of the oil and gas producer's stock after selling 227,700 shares during the quarter. Swiss National Bank owned approximately 0.29% of Suncor Energy worth $147,867,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Richardson Financial Services Inc. grew its holdings in shares of Suncor Energy by 64.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer's stock valued at $29,000 after acquiring an additional 275 shares in the last quarter. Hanson & Doremus Investment Management raised its holdings in Suncor Energy by 143.5% during the third quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock worth $33,000 after acquiring an additional 465 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Suncor Energy by 95.8% during the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer's stock valued at $33,000 after purchasing an additional 388 shares during the last quarter. Headlands Technologies LLC acquired a new position in Suncor Energy during the second quarter valued at approximately $31,000. Finally, Atlantic Union Bankshares Corp bought a new position in Suncor Energy in the second quarter valued at approximately $37,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Price Performance

Suncor Energy stock opened at $57.48 on Tuesday. The company has a market capitalization of $68.39 billion, a price-to-earnings ratio of 16.56 and a beta of 0.42. The company has a current ratio of 1.39, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $58.63. The stock's 50 day moving average is $52.16 and its 200-day moving average is $45.60.

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

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.2%. Suncor Energy's dividend payout ratio (DPR) is currently 50.72%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Suncor Energy in a research report on Monday, December 29th. Wall Street Zen downgraded Suncor Energy from a "buy" rating to a "hold" rating in a report on Sunday, December 28th. The Goldman Sachs Group boosted their target price on shares of Suncor Energy from $48.00 to $54.00 and gave the stock a "buy" rating in a report on Friday, January 23rd. Royal Bank Of Canada upped their price target on shares of Suncor Energy from $69.00 to $75.00 and gave the stock an "outperform" rating in a research report on Thursday, February 5th. Finally, JPMorgan Chase & Co. upgraded shares of Suncor Energy from a "neutral" rating to an "overweight" rating and increased their price target for the company from $46.15 to $54.00 in a research note on Tuesday, January 20th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Suncor Energy presently has an average rating of "Moderate Buy" and a consensus target price of $61.00.

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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