Lazard Asset Management LLC Sells 348,469 Shares of Suncor Energy Inc. (NYSE:SU)

Lazard Asset Management LLC lessened its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 16.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,792,273 shares of the oil and gas producer's stock after selling 348,469 shares during the period. Lazard Asset Management LLC owned about 0.14% of Suncor Energy worth $63,948,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Suncor Energy by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 53,019,357 shares of the oil and gas producer's stock worth $1,892,526,000 after purchasing an additional 323,714 shares during the last quarter. Artisan Partners Limited Partnership grew its position in Suncor Energy by 0.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 24,289,019 shares of the oil and gas producer's stock valued at $865,885,000 after buying an additional 169,700 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Suncor Energy by 0.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 23,308,055 shares of the oil and gas producer's stock valued at $831,631,000 after acquiring an additional 209,447 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Suncor Energy by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,981,927 shares of the oil and gas producer's stock worth $391,809,000 after acquiring an additional 445,613 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Suncor Energy by 4.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,132,812 shares of the oil and gas producer's stock worth $361,227,000 after purchasing an additional 437,252 shares during the last quarter. 67.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SU. Scotiabank upgraded Suncor Energy to a "hold" rating in a report on Wednesday, March 19th. Cibc World Mkts raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 11th. Tudor, Pickering, Holt & Co. raised Suncor Energy from a "hold" rating to a "buy" rating in a research report on Monday, February 10th. Tudor Pickering raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, February 10th. Finally, StockNews.com lowered Suncor Energy from a "buy" rating to a "hold" rating in a research report on Thursday, April 17th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $59.20.

Suncor Energy Stock Performance

NYSE:SU traded down $0.32 during mid-day trading on Friday, reaching $35.67. 3,472,307 shares of the company's stock were exchanged, compared to its average volume of 4,531,503. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $41.95. The business's fifty day simple moving average is $35.67 and its two-hundred day simple moving average is $37.35. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The firm has a market capitalization of $43.98 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 2.94 and a beta of 0.79.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. The company had revenue of $9.10 billion during the quarter, compared to analysts' expectations of $13.39 billion. During the same quarter in the prior year, the firm posted $1.41 earnings per share. Analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.4133 per share. The ex-dividend date is Wednesday, June 4th. This is a boost from Suncor Energy's previous quarterly dividend of $0.40. This represents a $1.65 annualized dividend and a yield of 4.63%. Suncor Energy's payout ratio is 45.53%.

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.