Suncor Energy (NYSE:SU) Sets New 52-Week Low - Should You Sell?

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU's share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $34.69 and last traded at $35.31, with a volume of 5505054 shares changing hands. The stock had previously closed at $35.75.

Analysts Set New Price Targets

SU has been the subject of a number of research reports. Bank of America initiated coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They set a "neutral" rating for the company. StockNews.com lowered shares of Suncor Energy from a "buy" rating to a "hold" rating in a research note on Thursday, April 17th. Cibc World Mkts upgraded Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 11th. Royal Bank of Canada reiterated an "outperform" rating and issued a $66.00 price target on shares of Suncor Energy in a research report on Tuesday, January 7th. Finally, Tudor, Pickering, Holt & Co. raised Suncor Energy from a "hold" rating to a "buy" rating in a report on Monday, February 10th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $59.20.

Suncor Energy Stock Performance

The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average of $35.78 and a 200 day moving average of $37.52. The firm has a market capitalization of $43.50 billion, a PE ratio of 10.25, a PEG 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 Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. Equities research analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.399 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a yield of 4.52%. Suncor Energy's payout ratio is 45.51%.

Hedge Funds Weigh In On Suncor Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Y Intercept Hong Kong Ltd bought a new stake in Suncor Energy in the 1st quarter worth approximately $3,079,000. HighPoint Advisor Group LLC lifted its holdings in shares of Suncor Energy by 13.3% in the 1st quarter. HighPoint Advisor Group LLC now owns 6,243 shares of the oil and gas producer's stock worth $223,000 after acquiring an additional 734 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Suncor Energy by 5.6% in the 1st quarter. Allianz Asset Management GmbH now owns 3,594,783 shares of the oil and gas producer's stock worth $139,169,000 after acquiring an additional 191,802 shares during the last quarter. AustralianSuper Pty Ltd boosted its stake in shares of Suncor Energy by 1,025.0% in the 1st quarter. AustralianSuper Pty Ltd now owns 2,149,643 shares of the oil and gas producer's stock valued at $83,248,000 after purchasing an additional 1,958,570 shares in the last quarter. Finally, Burling Wealth Partners LLC grew its holdings in shares of Suncor Energy by 52.1% during the 1st quarter. Burling Wealth Partners LLC now owns 36,719 shares of the oil and gas producer's stock valued at $1,422,000 after purchasing an additional 12,579 shares during the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

About Suncor Energy

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.