Cubist Systematic Strategies LLC Reduces Position in Suncor Energy Inc. (SU)
Cubist Systematic Strategies LLC reduced its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 85.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,822 shares of the oil and gas producer’s stock after selling 35,585 shares during the period. Cubist Systematic Strategies LLC’s holdings in Suncor Energy were worth $204,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its holdings in Suncor Energy by 90.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 4,725 shares of the oil and gas producer’s stock worth $124,000 after purchasing an additional 2,248 shares during the last quarter. UBS Asset Management Americas Inc. lifted 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 purchasing an additional 562 shares during the last quarter. Forward Management LLC acquired a new stake in Suncor Energy during the 3rd quarter worth approximately $154,000. Advisory Services Network LLC lifted 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 purchasing an additional 245 shares during the last quarter. Finally, Evercore Wealth Management LLC lifted 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 purchasing an additional 475 shares during the last quarter. 65.54% of the stock is owned by institutional investors and hedge funds.
Suncor Energy Inc. (SU) opened at $37.47 on Thursday. Suncor Energy Inc. has a 52 week low of $27.96 and a 52 week high of $38.39. The company has a quick ratio of 0.62, a current ratio of 0.91 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $61,720.00, a price-to-earnings ratio of 21.66, a PEG ratio of 3.14 and a beta of 0.85.
Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Wednesday, October 25th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.15. Suncor Energy had a return on equity of 5.68% and a net margin of 11.63%. The company had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.80 billion. sell-side analysts expect that Suncor Energy Inc. will post 1.36 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Stockholders of record on Friday, December 1st were paid a $0.251 dividend. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.00 annualized dividend and a dividend yield of 2.68%. Suncor Energy’s dividend payout ratio (DPR) is presently 58.38%.
Several analysts recently weighed in on the company. TD Securities cut Suncor Energy from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a report on Thursday, November 16th. Zacks Investment Research cut Suncor Energy from a “buy” rating to a “hold” rating in a report on Monday, November 20th. Wolfe Research raised Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Monday, October 16th. Canaccord Genuity reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Suncor Energy in a report on Monday, October 16th. Finally, Edward Jones raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, November 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $43.14.
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Suncor Energy Profile
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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