Suncor Energy Inc. $SU Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 6.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 312,991 shares of the oil and gas producer’s stock after selling 20,399 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Suncor Energy were worth $20,706,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Atlantic Edge Private Wealth Management LLC boosted its position in shares of Suncor Energy by 54.9% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 225 shares during the last quarter. 1 North Wealth Services LLC acquired a new stake in Suncor Energy during the fourth quarter worth about $32,000. Headlands Technologies LLC purchased a new position in Suncor Energy during the second quarter worth about $31,000. Accent Capital Management LLC grew its stake in shares of Suncor Energy by 37.5% in the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 225 shares during the period. Finally, Maseco LLP acquired a new stake in shares of Suncor Energy during the 4th quarter worth approximately $39,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. Wall Street Zen raised Suncor Energy from a “buy” rating to a “strong-buy” rating in a research note on Sunday. The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price on the stock. in a research report on Friday, June 5th. Scotiabank raised Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. Finally, Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $71.67.

Suncor Energy Stock Down 0.2%

Shares of SU opened at $61.12 on Wednesday. The stock has a market capitalization of $72.16 billion, a PE ratio of 16.04 and a beta of 0.30. Suncor Energy Inc. has a 1 year low of $37.76 and a 1 year high of $70.29. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42. The company’s 50-day simple moving average is $61.28 and its 200-day simple moving average is $58.40.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The business had revenue of $10.41 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the firm posted $1.31 EPS. Analysts forecast that Suncor Energy Inc. will post 7.07 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were paid a $0.60 dividend. The ex-dividend date was Thursday, June 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.9%. Suncor Energy’s payout ratio is 45.41%.

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.