Quadrature Capital Ltd Sells 70,300 Shares of Suncor Energy Inc. $SU

Quadrature Capital Ltd trimmed its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 86.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,800 shares of the oil and gas producer’s stock after selling 70,300 shares during the period. Quadrature Capital Ltd’s holdings in Suncor Energy were worth $403,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Suncor Energy by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 54,631,516 shares of the oil and gas producer’s stock worth $2,046,442,000 after purchasing an additional 1,632,247 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of Suncor Energy by 38.5% in the second quarter. Artisan Partners Limited Partnership now owns 33,722,975 shares of the oil and gas producer’s stock worth $1,264,043,000 after acquiring an additional 9,378,552 shares during the period. Goldman Sachs Group Inc. increased its position in Suncor Energy by 83.6% during the first quarter. Goldman Sachs Group Inc. now owns 12,426,008 shares of the oil and gas producer’s stock valued at $481,135,000 after acquiring an additional 5,658,880 shares during the last quarter. Acadian Asset Management LLC increased its position in Suncor Energy by 12,290.9% during the first quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer’s stock valued at $480,760,000 after acquiring an additional 12,318,559 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Suncor Energy by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 11,272,827 shares of the oil and gas producer’s stock valued at $436,459,000 after acquiring an additional 290,900 shares during the period. Institutional investors own 67.37% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SU shares. Raymond James Financial upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Suncor Energy in a report on Monday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $65.00 target price on shares of Suncor Energy in a report on Friday, October 3rd. Zacks Research cut shares of Suncor Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Finally, Wells Fargo & Company initiated coverage on shares of Suncor Energy in a research report on Friday, October 17th. They set an “equal weight” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Suncor Energy Price Performance

NYSE SU opened at $43.96 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $45.60. The stock has a market cap of $52.83 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 3.52 and a beta of 0.75. The company’s 50 day moving average is $41.76 and its two-hundred day moving average is $40.04.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.22. The business had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.82 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same period in the prior year, the business posted $1.48 earnings per share. As a group, research analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 3rd will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Wednesday, December 3rd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s dividend payout ratio (DPR) is currently 55.74%.

Suncor Energy Company 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.