Capital International Investors Has $28.39 Million Position in Suncor Energy Inc. (NYSE:SU)

Capital International Investors reduced its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 19.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 769,228 shares of the oil and gas producer’s stock after selling 188,027 shares during the period. Capital International Investors owned 0.06% of Suncor Energy worth $28,389,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. TD Asset Management Inc grew its stake in shares of Suncor Energy by 16.8% in the fourth quarter. TD Asset Management Inc now owns 32,070,496 shares of the oil and gas producer’s stock valued at $1,032,453,000 after acquiring an additional 4,612,764 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Suncor Energy by 669.2% in the first quarter. Assenagon Asset Management S.A. now owns 4,348,589 shares of the oil and gas producer’s stock valued at $160,507,000 after acquiring an additional 3,783,250 shares in the last quarter. AGF Management Ltd. grew its stake in shares of Suncor Energy by 454.9% in the fourth quarter. AGF Management Ltd. now owns 3,586,421 shares of the oil and gas producer’s stock valued at $114,909,000 after acquiring an additional 2,940,103 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Suncor Energy by 8.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 22,384,816 shares of the oil and gas producer’s stock valued at $717,210,000 after acquiring an additional 1,725,969 shares in the last quarter. Finally, Sanders Capital LLC grew its stake in shares of Suncor Energy by 2.8% in the fourth quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock valued at $1,836,470,000 after acquiring an additional 1,568,629 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Trading Up 0.1 %

Suncor Energy stock traded up $0.02 during mid-day trading on Friday, hitting $38.50. 1,519,928 shares of the stock were exchanged, compared to its average volume of 4,493,133. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. Suncor Energy Inc. has a 12 month low of $29.45 and a 12 month high of $41.50. The firm’s fifty day simple moving average is $38.46 and its two-hundred day simple moving average is $36.58. The stock has a market capitalization of $49.34 billion, a price-to-earnings ratio of 8.57, a PEG ratio of 3.61 and a beta of 1.12.

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

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th were given a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend was Tuesday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is 35.63%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Scotiabank reduced their price objective on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Morgan Stanley increased their price objective on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Raymond James upgraded shares of Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. Wolfe Research initiated coverage on shares of Suncor Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $68.00 price objective on the stock. Finally, TD Securities increased their target price on shares of Suncor Energy from $52.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, May 22nd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Suncor Energy has a consensus rating of “Moderate Buy” and a consensus target price of $54.75.

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.