Rempart Asset Management Inc. Sells 7,870 Shares of Suncor Energy Inc. $SU

Rempart Asset Management Inc. lessened its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 476,655 shares of the oil and gas producer’s stock after selling 7,870 shares during the period. Suncor Energy makes up approximately 4.0% of Rempart Asset Management Inc.’s holdings, making the stock its 12th largest position. Rempart Asset Management Inc.’s holdings in Suncor Energy were worth $21,169,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SU. CWA Asset Management Group LLC raised its position in shares of Suncor Energy by 64.9% during the third quarter. CWA Asset Management Group LLC now owns 117,779 shares of the oil and gas producer’s stock valued at $4,924,000 after buying an additional 46,342 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Suncor Energy by 0.6% in the third quarter. Principal Financial Group Inc. now owns 18,854,921 shares of the oil and gas producer’s stock valued at $789,213,000 after buying an additional 106,765 shares during the period. Swiss Life Asset Management Ltd grew its position in Suncor Energy by 35.0% during the third quarter. Swiss Life Asset Management Ltd now owns 101,192 shares of the oil and gas producer’s stock worth $4,240,000 after buying an additional 26,252 shares in the last quarter. Picton Mahoney Asset Management grew its position in Suncor Energy by 314.8% during the third quarter. Picton Mahoney Asset Management now owns 627,313 shares of the oil and gas producer’s stock worth $26,246,000 after buying an additional 476,077 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Suncor Energy by 45.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 723,965 shares of the oil and gas producer’s stock valued at $29,871,000 after acquiring an additional 227,197 shares during the period. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

NYSE:SU opened at $64.72 on Thursday. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $65.33. The company has a quick ratio of 0.89, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $77.01 billion, a PE ratio of 18.65 and a beta of 0.43. The firm has a 50-day moving average price of $55.90 and a 200 day moving average price of $47.31.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.The company had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.79 billion. During the same period in the previous year, the business earned $1.25 earnings per share. Research analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th were paid a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $2.40 annualized dividend and a yield of 3.7%. Suncor Energy’s payout ratio is currently 50.72%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Zacks Research cut Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. The Goldman Sachs Group lifted their price objective on Suncor Energy from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Wall Street Zen lowered Suncor Energy from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. JPMorgan Chase & Co. raised Suncor Energy from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $46.15 to $54.00 in a research report on Tuesday, January 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Suncor Energy in a research note on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Suncor Energy has a consensus rating of “Moderate Buy” and an average price target of $63.67.

About Suncor Energy

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.