Arcadia Investment Management Corp MI decreased its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 9.9% during the second quarter, Holdings Channel reports. The firm owned 100,868 shares of the oil and gas producer’s stock after selling 11,051 shares during the period. Arcadia Investment Management Corp MI’s holdings in Suncor Energy were worth $2,945,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. CENTRAL TRUST Co raised its position in Suncor Energy by 90.8% in the first quarter. CENTRAL TRUST Co now owns 3,641 shares of the oil and gas producer’s stock valued at $112,000 after buying an additional 1,733 shares in the last quarter. Howe & Rusling Inc. raised its position in Suncor Energy by 19.3% in the first quarter. Howe & Rusling Inc. now owns 4,143 shares of the oil and gas producer’s stock valued at $127,000 after buying an additional 670 shares in the last quarter. YorkBridge Wealth Partners LLC raised its position in Suncor Energy by 1.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 4,061 shares of the oil and gas producer’s stock valued at $128,000 after buying an additional 42 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its position in Suncor Energy by 6.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,224 shares of the oil and gas producer’s stock valued at $130,000 after buying an additional 238 shares in the last quarter. Finally, UBS Asset Management Americas Inc. acquired a new position in Suncor Energy during the fourth quarter valued at $152,000. Hedge funds and other institutional investors own 65.59% of the company’s stock.

Shares of Suncor Energy Inc. (SU) opened at 32.05 on Tuesday. The company’s 50-day moving average price is $30.72 and its 200 day moving average price is $30.92. Suncor Energy Inc. has a 12-month low of $25.70 and a 12-month high of $33.79. The company has a market cap of $53.18 billion, a price-to-earnings ratio of 24.88 and a beta of 0.82.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Tuesday, September 5th will be paid a $0.2552 dividend. The ex-dividend date is Thursday, August 31st. This is an increase from Suncor Energy ‘s previous quarterly dividend of $0.24. This represents a $1.02 annualized dividend and a dividend yield of 3.18%. Suncor Energy ‘s dividend payout ratio (DPR) is currently 77.87%.

Suncor Energy announced that its Board of Directors has approved a stock buyback plan on Wednesday, April 26th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the oil and gas producer to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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SU has been the topic of several recent analyst reports. Zacks Investment Research lowered Suncor Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Simmons reduced their target price on Suncor Energy from $43.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, April 19th. Scotiabank lowered Suncor Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, June 9th. National Bank Financial initiated coverage on Suncor Energy in a report on Tuesday, June 27th. They set an “outperform” rating on the stock. Finally, Piper Jaffray Companies reduced their target price on Suncor Energy from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, July 3rd. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Suncor Energy presently has a consensus rating of “Buy” and a consensus price target of $42.10.

About Suncor Energy

Suncor Energy Inc (Suncor) is an 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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Institutional Ownership by Quarter for Suncor Energy  (NYSE:SU)

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