Suncor Energy Inc. (NYSE:SU) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lessened its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 199,785 shares of the oil and gas producer’s stock after selling 3,250 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Suncor Energy were worth $7,128,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SU. Eastern Bank bought a new position in Suncor Energy in the 3rd quarter valued at about $25,000. HHM Wealth Advisors LLC grew its position in Suncor Energy by 62.1% in the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after buying an additional 325 shares in the last quarter. Golden State Wealth Management LLC bought a new position in Suncor Energy in the 4th quarter valued at about $39,000. Stonebridge Financial Group LLC bought a new position in Suncor Energy in the 4th quarter valued at about $45,000. Finally, Waldron Private Wealth LLC bought a new position in Suncor Energy in the 3rd quarter valued at about $49,000. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Shares of NYSE:SU opened at $39.84 on Wednesday. The stock has a market capitalization of $49.58 billion, a P/E ratio of 11.55, a P/E/G ratio of 2.89 and a beta of 1.12. Suncor Energy Inc. has a 1-year low of $32.62 and a 1-year high of $41.94. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average price of $37.80 and a two-hundred day moving average price of $38.62.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. Equities analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.399 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a yield of 4.01%. Suncor Energy’s payout ratio is 46.67%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Cibc World Mkts upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 price target on shares of Suncor Energy in a research report on Tuesday, January 7th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Finally, Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and a consensus price target of $58.00.

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.