SCP Investment LP Lowers Position in Suncor Energy Inc. $SU

SCP Investment LP decreased its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 28.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,600 shares of the oil and gas producer’s stock after selling 13,200 shares during the quarter. Suncor Energy accounts for approximately 1.2% of SCP Investment LP’s portfolio, making the stock its 19th largest holding. SCP Investment LP’s holdings in Suncor Energy were worth $1,446,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SU. Atlantic Edge Private Wealth Management LLC boosted its holdings in Suncor Energy by 54.9% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 225 shares in the last quarter. Headlands Technologies LLC purchased a new position in Suncor Energy in the second quarter valued at $31,000. Smartleaf Asset Management LLC raised its position in shares of Suncor Energy by 95.8% in the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 388 shares during the period. Accent Capital Management LLC boosted its stake in shares of Suncor Energy by 37.5% during the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 225 shares in the last quarter. Finally, Maseco LLP purchased a new stake in shares of Suncor Energy during the 4th quarter worth about $39,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Stock Up 2.4%

SU opened at $65.31 on Wednesday. Suncor Energy Inc. has a twelve month low of $35.93 and a twelve month high of $70.29. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average price of $65.26 and a 200 day moving average price of $55.26. The company has a market cap of $77.11 billion, a PE ratio of 17.14 and a beta of 0.27.

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

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.7%. Suncor Energy’s payout ratio is currently 46.19%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SU. The Goldman Sachs Group lifted their price target on Suncor Energy from $66.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. Royal Bank Of Canada boosted their price objective on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research 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 Saturday. Finally, Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $72.00.

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.