GS Investments Inc. Reduces Stock Position in Suncor Energy Inc. $SU

GS Investments Inc. reduced its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 30.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,400 shares of the oil and gas producer’s stock after selling 9,428 shares during the quarter. GS Investments Inc.’s holdings in Suncor Energy were worth $949,000 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 SU. AQR Capital Management LLC increased its holdings in Suncor Energy by 14.2% during the 1st 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. increased its holdings 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 acquiring an additional 1,254 shares during the period. EverSource Wealth Advisors LLC increased its holdings 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 acquiring an additional 464 shares during the period. 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 acquiring 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 acquiring an additional 4,043 shares during the period. Institutional investors own 67.37% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Royal Bank Of Canada upped their target price on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, April 1st. The Goldman Sachs Group upped their target price on shares of Suncor Energy from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Finally, ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $72.00.

Suncor Energy Price Performance

Shares of Suncor Energy stock opened at $65.55 on Wednesday. Suncor Energy Inc. has a 52-week low of $35.29 and a 52-week high of $70.29. The stock has a market capitalization of $77.40 billion, a price-to-earnings ratio of 17.20 and a beta of 0.31. The company has a fifty day moving average of $65.13 and a 200-day moving average of $54.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The business had revenue of $10.41 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the company posted $1.31 EPS. Equities research analysts expect that Suncor Energy Inc. will post 6.79 EPS for the current year.

Suncor Energy Announces Dividend

The firm also recently disclosed 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 dividend payout ratio is 46.19%.

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.