Zurcher Kantonalbank Zurich Cantonalbank Sells 107,409 Shares of Suncor Energy Inc. (NYSE:SU)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in Suncor Energy Inc. by 10.3%, selling 107,409 shares during the first quarter, now holding approximately 0.08% of the company worth $36.36 million.
• Moving forward, Wall Street analysts currently have a consensus rating of "Moderate Buy" for Suncor Energy, with an average target price of $66.00.
• Suncor Energy recently declared a quarterly dividend of $0.4133 per share, representing an annual yield of 4.20%, a positive increase from its previous dividend.

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 10.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 939,104 shares of the oil and gas producer's stock after selling 107,409 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.08% of Suncor Energy worth $36,357,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. CIBC Private Wealth Group LLC lifted its holdings in shares of Suncor Energy by 250.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 19,811 shares of the oil and gas producer's stock worth $759,000 after buying an additional 14,163 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Suncor Energy by 65.0% during the first quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer's stock worth $620,136,000 after buying an additional 6,311,513 shares in the last quarter. Inscription Capital LLC acquired a new stake in shares of Suncor Energy during the first quarter worth $247,000. Vident Advisory LLC increased its position in shares of Suncor Energy by 967.9% in the fourth quarter. Vident Advisory LLC now owns 519,112 shares of the oil and gas producer's stock worth $18,522,000 after purchasing an additional 470,500 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of Suncor Energy by 14.2% in the fourth quarter. Ameriprise Financial Inc. now owns 623,306 shares of the oil and gas producer's stock worth $22,884,000 after purchasing an additional 77,556 shares during the period. Institutional investors and hedge funds own 67.37% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Suncor Energy from a "buy" rating to a "hold" rating in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $66.00.

Suncor Energy Price Performance

Shares of Suncor Energy stock traded down $0.34 during midday trading on Thursday, hitting $39.36. 1,291,057 shares of the company traded hands, compared to its average volume of 4,793,692. The stock has a market cap of $48.12 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 3.53 and a beta of 0.80. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.39. The firm's fifty day moving average price is $38.34 and its 200-day moving average price is $37.39. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $41.94.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.05. The company had revenue of $9.10 billion for the quarter, compared to analyst estimates of $13.39 billion. Suncor Energy had a net margin of 11.95% and a return on equity of 14.90%. During the same period in the previous year, the firm posted $1.41 EPS. As a group, sell-side analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th were issued a dividend of $0.4133 per share. The ex-dividend date was Wednesday, June 4th. This is a positive change from Suncor Energy's previous quarterly dividend of $0.40. This represents a $1.65 annualized dividend and a dividend yield of 4.20%. Suncor Energy's payout ratio is 47.55%.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.