BARING ASSET MANAGEMENT Ltd reduced its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 28.8% during the second quarter, Holdings Channel reports. The firm owned 1,330,229 shares of the oil and gas producer’s stock after selling 537,526 shares during the period. Suncor Energy comprises 2.5% of BARING ASSET MANAGEMENT Ltd’s portfolio, making the stock its 9th largest position. BARING ASSET MANAGEMENT Ltd’s holdings in Suncor Energy were worth $38,843,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SU. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in shares of Suncor Energy by 7.1% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 70,599 shares of the oil and gas producer’s stock valued at $2,161,000 after buying an additional 4,699 shares during the last quarter. BlackRock Inc. increased its position in shares of Suncor Energy by 11,547,276.0% in the first quarter. BlackRock Inc. now owns 23,556,647 shares of the oil and gas producer’s stock valued at $724,366,000 after buying an additional 23,556,443 shares during the last quarter. Gateway Investment Advisers LLC increased its position in shares of Suncor Energy by 0.7% in the second quarter. Gateway Investment Advisers LLC now owns 17,676 shares of the oil and gas producer’s stock valued at $516,000 after buying an additional 116 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Suncor Energy during the first quarter valued at about $191,000. Finally, JPMorgan Chase & Co. increased its position in shares of Suncor Energy by 19.2% in the first quarter. JPMorgan Chase & Co. now owns 2,508,455 shares of the oil and gas producer’s stock valued at $77,135,000 after buying an additional 404,808 shares during the last quarter. 65.59% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Suncor Energy Inc. (SU) opened at 32.12 on Wednesday. Suncor Energy Inc. has a one year low of $25.70 and a one year high of $33.79. The stock has a market cap of $53.30 billion, a P/E ratio of 24.94 and a beta of 0.82. The stock has a 50 day moving average of $30.81 and a 200 day moving average of $30.92.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Tuesday, September 5th will be given a dividend of $0.2552 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.02 annualized dividend and a dividend yield of 3.20%. This is a positive change from Suncor Energy ‘s previous quarterly dividend of $0.24. Suncor Energy ‘s dividend payout ratio is currently 77.87%.

Suncor Energy declared that its board has approved a stock repurchase program on Wednesday, April 26th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the oil and gas producer to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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Several research analysts have issued reports on the stock. BidaskClub raised shares of Suncor Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Citigroup Inc. reissued a “buy” rating on shares of Suncor Energy in a research report on Wednesday, August 2nd. AltaCorp Capital downgraded shares of Suncor Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, July 28th. Zacks Investment Research downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Barclays PLC reissued an “overweight” rating and set a $52.00 price objective (up from $47.00) on shares of Suncor Energy in a research report on Wednesday, July 12th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Suncor Energy has an average rating of “Buy” and a consensus target price of $42.10.

Suncor Energy Company Profile

Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.

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Institutional Ownership by Quarter for Suncor Energy  (NYSE:SU)

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