Lyrical Asset Management LP Has $201.83 Million Stock Holdings in Suncor Energy Inc. (NYSE:SU)

Lyrical Asset Management LP cut its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 5,212,452 shares of the oil and gas producer’s stock after selling 115,586 shares during the quarter. Suncor Energy comprises approximately 3.1% of Lyrical Asset Management LP’s investment portfolio, making the stock its 16th biggest position. Lyrical Asset Management LP’s holdings in Suncor Energy were worth $201,826,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in Suncor Energy by 65.0% in the 1st quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer’s stock valued at $620,136,000 after acquiring an additional 6,311,513 shares in the last quarter. Inscription Capital LLC acquired a new position in shares of Suncor Energy during the 1st quarter worth $247,000. Vident Advisory LLC raised its holdings in shares of Suncor Energy by 967.9% during the 4th quarter. Vident Advisory LLC now owns 519,112 shares of the oil and gas producer’s stock worth $18,522,000 after buying an additional 470,500 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Suncor Energy by 13.3% during the 1st quarter. Bank of New York Mellon Corp now owns 3,492,472 shares of the oil and gas producer’s stock worth $135,228,000 after buying an additional 409,032 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Suncor Energy by 14.2% during the 4th quarter. Ameriprise Financial Inc. now owns 623,306 shares of the oil and gas producer’s stock worth $22,884,000 after buying an additional 77,556 shares in the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.00.

Suncor Energy Price Performance

Suncor Energy stock opened at $38.93 on Thursday. The stock has a market capitalization of $47.41 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 3.35 and a beta of 0.84. Suncor Energy Inc. has a 52 week low of $30.79 and a 52 week high of $41.94. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26. The stock has a fifty day moving average of $38.97 and a 200-day moving average of $37.37.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The business had revenue of $8.81 billion for the quarter, compared to analyst estimates of $11.56 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%. During the same quarter in the previous year, the company posted $1.27 EPS. On average, sell-side analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a dividend of $0.4135 per share. The ex-dividend date is Thursday, September 4th. This represents a $1.65 dividend on an annualized basis and a yield of 4.2%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s dividend payout ratio is presently 51.08%.

Suncor Energy Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.