Locust Wood Capital Advisers LLC Cuts Stake in Suncor Energy Inc. $SU

Locust Wood Capital Advisers LLC cut its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 20.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,784,089 shares of the oil and gas producer’s stock after selling 466,337 shares during the period. Suncor Energy accounts for 1.9% of Locust Wood Capital Advisers LLC’s investment portfolio, making the stock its 24th largest holding. Locust Wood Capital Advisers LLC’s holdings in Suncor Energy were worth $79,142,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its position in shares of Suncor Energy by 14.2% during the first quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock worth $959,000 after acquiring an additional 3,115 shares during the period. Geneos Wealth Management Inc. grew its stake in Suncor Energy by 172.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock worth $77,000 after purchasing an additional 1,254 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Suncor Energy by 21.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer’s stock worth $100,000 after purchasing an additional 464 shares in the last quarter. AXA S.A. increased its holdings in Suncor Energy by 17.2% during the 2nd quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer’s stock worth $1,883,000 after purchasing an additional 7,395 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in Suncor Energy by 6.4% during the 2nd quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer’s stock worth $2,514,000 after purchasing an additional 4,043 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Up 0.1%

SU opened at $62.28 on Monday. Suncor Energy Inc. has a one year low of $36.60 and a one year high of $70.29. The company has a market cap of $73.54 billion, a P/E ratio of 16.35 and a beta of 0.27. 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 business’s 50-day simple moving average is $65.31 and its 200-day simple moving average is $55.84.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.04). The business had revenue of $10.41 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.During the same quarter in the previous year, the firm earned $1.31 EPS. As a group, equities research analysts expect that Suncor Energy Inc. will post 7.07 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be issued a $0.60 dividend. The ex-dividend date is Thursday, June 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.9%. Suncor Energy’s dividend payout ratio is presently 45.41%.

Analyst Ratings Changes

Several brokerages have recently issued reports on SU. Royal Bank Of Canada lifted their price objective on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. ATB Cormark Capital Markets upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. The Goldman Sachs Group downgraded shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a research report on Friday. Finally, Wall Street Zen lowered shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Sunday. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average target price of $71.67.

Suncor Energy 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.