Dynamic Technology Lab Private Ltd Decreases Position in Suncor Energy Inc. $SU

Dynamic Technology Lab Private Ltd lowered its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 54.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,582 shares of the oil and gas producer’s stock after selling 25,934 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Suncor Energy were worth $902,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Artisan Partners Limited Partnership grew its stake in Suncor Energy by 38.5% during the 2nd quarter. Artisan Partners Limited Partnership now owns 33,722,975 shares of the oil and gas producer’s stock worth $1,264,043,000 after purchasing an additional 9,378,552 shares in the last quarter. Fisher Asset Management LLC raised its position in Suncor Energy by 85.5% in the 3rd quarter. Fisher Asset Management LLC now owns 15,530,965 shares of the oil and gas producer’s stock valued at $649,350,000 after purchasing an additional 7,158,953 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Suncor Energy by 29.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,555,381 shares of the oil and gas producer’s stock valued at $395,649,000 after buying an additional 2,406,000 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in shares of Suncor Energy in the 2nd quarter valued at about $74,767,000. Finally, Vanguard Group Inc. grew its position in shares of Suncor Energy by 3.1% during the second quarter. Vanguard Group Inc. now owns 54,631,516 shares of the oil and gas producer’s stock worth $2,046,442,000 after buying an additional 1,632,247 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Price Performance

Shares of NYSE SU opened at $57.48 on Tuesday. The stock’s 50-day simple moving average is $52.16 and its 200-day simple moving average is $45.60. The firm has a market capitalization of $68.39 billion, a PE ratio of 16.56 and a beta of 0.42. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $58.63. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.39.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.79 billion. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.During the same period in the prior year, the company posted $1.25 earnings per share. As a group, equities research analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Wednesday, March 4th. Suncor Energy’s payout ratio is currently 50.72%.

Analyst Ratings Changes

A number of research firms recently weighed in on SU. The Goldman Sachs Group upped their target price on shares of Suncor Energy from $48.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. upgraded shares of Suncor Energy from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $46.15 to $54.00 in a report on Tuesday, January 20th. Wall Street Zen downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a report on Monday, December 29th. Finally, Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.00.

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.