Pictet Asset Management Ltd. Has $18.49 Million Holdings in Suncor Energy Inc. (NYSE:SU)
Pictet Asset Management Ltd. reduced its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 591,457 shares of the oil and gas producer’s stock after selling 16,700 shares during the period. Pictet Asset Management Ltd.’s holdings in Suncor Energy were worth $18,489,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in shares of Suncor Energy during the 1st quarter worth about $170,379,000. Lazard Asset Management LLC boosted its stake in shares of Suncor Energy by 328.2% during the 1st quarter. Lazard Asset Management LLC now owns 3,849,360 shares of the oil and gas producer’s stock worth $124,834,000 after acquiring an additional 2,950,451 shares in the last quarter. FIL Ltd boosted its stake in shares of Suncor Energy by 4.4% during the 1st quarter. FIL Ltd now owns 44,367,061 shares of the oil and gas producer’s stock worth $1,437,901,000 after acquiring an additional 1,862,871 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Suncor Energy by 14.7% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,822,600 shares of the oil and gas producer’s stock worth $448,113,000 after acquiring an additional 1,772,600 shares in the last quarter. Finally, Sanders Capital LLC boosted its stake in shares of Suncor Energy by 6.8% during the 2nd quarter. Sanders Capital LLC now owns 26,178,616 shares of the oil and gas producer’s stock worth $860,790,000 after acquiring an additional 1,662,000 shares in the last quarter. Institutional investors own 65.34% of the company’s stock.
Shares of SU stock traded down $0.21 during mid-day trading on Friday, reaching $30.47. The stock had a trading volume of 81,335 shares, compared to its average volume of 3,129,008. The firm’s 50 day simple moving average is $28.82 and its 200 day simple moving average is $31.45. The company has a quick ratio of 0.63, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. Suncor Energy Inc. has a one year low of $25.81 and a one year high of $40.08. The firm has a market cap of $47.76 billion, a PE ratio of 15.25, a P/E/G ratio of 1.70 and a beta of 1.07.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be given a $0.321 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.21%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.31. Suncor Energy’s dividend payout ratio (DPR) is currently 63.00%.
SU has been the subject of several recent analyst reports. BMO Capital Markets reiterated a “buy” rating on shares of Suncor Energy in a research note on Monday, June 24th. ValuEngine upgraded Suncor Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, August 27th. Finally, Citigroup decreased their price target on Suncor Energy from $59.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Suncor Energy currently has a consensus rating of “Buy” and a consensus price target of $48.23.
Suncor Energy Company Profile
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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