Prospector Partners LLC decreased its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 228,700 shares of the oil and gas producer’s stock after selling 4,300 shares during the quarter. Prospector Partners LLC’s holdings in Suncor Energy were worth $8,011,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Advisory Services Network LLC raised its holdings in Suncor Energy by 3.9% during the 2nd quarter. Advisory Services Network LLC now owns 6,470 shares of the oil and gas producer’s stock worth $189,000 after buying an additional 245 shares during the period. Peapack Gladstone Financial Corp raised its holdings in Suncor Energy by 3.2% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 13,593 shares of the oil and gas producer’s stock worth $397,000 after buying an additional 417 shares during the period. Lincoln National Corp raised its holdings in Suncor Energy by 1.9% during the 2nd quarter. Lincoln National Corp now owns 25,046 shares of the oil and gas producer’s stock worth $731,000 after buying an additional 463 shares during the period. Evercore Wealth Management LLC raised its holdings in Suncor Energy by 7.7% during the 2nd quarter. Evercore Wealth Management LLC now owns 6,675 shares of the oil and gas producer’s stock worth $195,000 after buying an additional 475 shares during the period. Finally, UBS Asset Management Americas Inc. raised its holdings in Suncor Energy by 13.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,658 shares of the oil and gas producer’s stock worth $136,000 after buying an additional 562 shares during the period. 65.61% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have commented on SU shares. Canaccord Genuity restated a “buy” rating and set a $51.00 target price on shares of Suncor Energy in a report on Thursday, October 26th. Zacks Investment Research upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Wednesday, October 11th. Edward Jones upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, November 20th. TD Securities downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a report on Thursday, November 16th. Finally, Wolfe Research upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $43.14.
Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Wednesday, October 25th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.15. Suncor Energy had a net margin of 11.63% and a return on equity of 5.68%. The company had revenue of $6.40 billion for the quarter, compared to the consensus estimate of $6.80 billion. sell-side analysts predict that Suncor Energy Inc. will post 1.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, December 1st will be issued a $0.251 dividend. The ex-dividend date is Thursday, November 30th. This is an increase from Suncor Energy’s previous quarterly dividend of $0.19. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.95%. Suncor Energy’s dividend payout ratio (DPR) is 60.84%.
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About Suncor Energy
Suncor Energy Inc is a Canada-based integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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