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Cardinal Capital Management Inc. Sells 116,593 Shares of Suncor Energy Inc. (NYSE:SU)

Suncor Energy logo with Oils/Energy background

Cardinal Capital Management Inc. trimmed its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 3.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,708,549 shares of the oil and gas producer's stock after selling 116,593 shares during the period. Suncor Energy accounts for approximately 6.1% of Cardinal Capital Management Inc.'s holdings, making the stock its largest holding. Cardinal Capital Management Inc. owned approximately 0.29% of Suncor Energy worth $136,966,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SU. HighTower Advisors LLC increased its holdings in Suncor Energy by 39.9% during the 3rd quarter. HighTower Advisors LLC now owns 45,997 shares of the oil and gas producer's stock valued at $1,581,000 after purchasing an additional 13,126 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in shares of Suncor Energy by 7.6% in the 3rd quarter. Checchi Capital Advisers LLC now owns 7,966 shares of the oil and gas producer's stock valued at $274,000 after buying an additional 560 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Suncor Energy in the 3rd quarter valued at $1,196,000. Envestnet Asset Management Inc. increased its stake in shares of Suncor Energy by 65.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 871,508 shares of the oil and gas producer's stock valued at $29,962,000 after buying an additional 345,757 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in shares of Suncor Energy in the 3rd quarter valued at $719,000. 67.37% of the stock is owned by institutional investors and hedge funds.


Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SU shares. The Goldman Sachs Group lifted their target price on Suncor Energy from $38.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, May 23rd. TD Securities raised their price target on Suncor Energy from $52.00 to $57.00 and gave the stock a "hold" rating in a research report on Wednesday, May 22nd. StockNews.com lowered Suncor Energy from a "buy" rating to a "hold" rating in a research report on Wednesday, June 12th. Morgan Stanley raised their price target on Suncor Energy from $50.00 to $52.00 and gave the stock an "overweight" rating in a research report on Thursday, March 28th. Finally, Raymond James upgraded Suncor Energy to a "hold" rating in a research report on Tuesday, May 28th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $51.67.

Get Our Latest Research Report on Suncor Energy

Suncor Energy Trading Up 0.4 %

SU stock traded up $0.13 during midday trading on Thursday, hitting $37.14. 4,113,709 shares of the company's stock were exchanged, compared to its average volume of 4,687,051. The stock's fifty day moving average price is $38.79 and its 200-day moving average price is $35.43. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 1.51. The company has a market cap of $47.60 billion, a PE ratio of 8.27, a price-to-earnings-growth ratio of 3.51 and a beta of 1.11. Suncor Energy Inc. has a one year low of $28.07 and a one year high of $41.50.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.15. The firm had revenue of $9.29 billion for the quarter, compared to analyst estimates of $8.64 billion. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. Research analysts predict that Suncor Energy Inc. will post 3.52 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th will be issued a $0.395 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.25%. Suncor Energy's dividend payout ratio (DPR) is 35.19%.

Suncor Energy Profile

(Free Report)

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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Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

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