Massachusetts Financial Services Co. MA Purchases 1,725,969 Shares of Suncor Energy Inc. (NYSE:SU)

Massachusetts Financial Services Co. MA grew its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 8.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,384,816 shares of the oil and gas producer's stock after acquiring an additional 1,725,969 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.73% of Suncor Energy worth $717,210,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SU. Optiver Holding B.V. acquired a new stake in Suncor Energy during the 3rd quarter valued at $29,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Suncor Energy by 43.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer's stock worth $33,000 after buying an additional 313 shares in the last quarter. Headinvest LLC acquired a new position in shares of Suncor Energy during the third quarter worth $40,000. Bruce G. Allen Investments LLC acquired a new position in shares of Suncor Energy during the fourth quarter worth $46,000. Finally, NBC Securities Inc. acquired a new position in shares of Suncor Energy during the third quarter worth $54,000. Institutional investors own 67.37% of the company's stock.

Suncor Energy Trading Down 1.1 %

NYSE SU traded down $0.45 on Monday, reaching $39.64. The company had a trading volume of 3,916,166 shares, compared to its average volume of 4,244,250. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 0.97. The firm has a market cap of $50.97 billion, a price-to-earnings ratio of 8.84, a P/E/G ratio of 3.54 and a beta of 1.11. The business has a 50 day moving average of $37.47 and a two-hundred day moving average of $34.25. Suncor Energy Inc. has a fifty-two week low of $27.59 and a fifty-two week high of $40.69.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.13. The business had revenue of $10.39 billion for the quarter, compared to analysts' expectations of $8.46 billion. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. During the same quarter in the prior year, the firm posted $1.33 earnings per share. Analysts forecast that Suncor Energy Inc. will post 3.77 EPS for the current year.

Suncor Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th will be given a dividend of $0.395 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.58 dividend on an annualized basis and a yield of 3.99%. Suncor Energy's dividend payout ratio (DPR) is currently 35.86%.

Analyst Ratings Changes

SU has been the subject of several research analyst reports. StockNews.com downgraded shares of Suncor Energy from a "buy" rating to a "hold" rating in a report on Wednesday, May 8th. Morgan Stanley increased their price objective on Suncor Energy from $50.00 to $52.00 and gave the company an "overweight" rating in a report on Thursday, March 28th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Suncor Energy has an average rating of "Moderate Buy" and an average price target of $52.00.

Suncor Energy 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.

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