Swiss National Bank Has $188.40 Million Position in Suncor Energy Inc. (SU)
Swiss National Bank reduced its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 4.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,447,112 shares of the oil and gas producer’s stock after selling 296,400 shares during the period. Swiss National Bank owned about 0.39% of Suncor Energy worth $188,401,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. UBS Asset Management Americas Inc. acquired a new stake in Suncor Energy during the fourth quarter worth $152,000. Janney Montgomery Scott LLC purchased a new position in shares of Suncor Energy during the first quarter valued at approximately $811,000. BB&T Corp increased its position in shares of Suncor Energy by 12.9% in the first quarter. BB&T Corp now owns 7,774 shares of the oil and gas producer’s stock valued at $239,000 after buying an additional 887 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Suncor Energy by 113.8% in the first quarter. Canada Pension Plan Investment Board now owns 111,600 shares of the oil and gas producer’s stock valued at $3,417,000 after buying an additional 59,390 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Suncor Energy during the first quarter valued at approximately $191,000. Institutional investors own 64.07% of the company’s stock.
Shares of Suncor Energy Inc. (NYSE SU) traded up 0.54% on Thursday, hitting $31.10. 707,498 shares of the stock traded hands. The firm has a market cap of $51.61 billion, a P/E ratio of 24.41 and a beta of 0.82. Suncor Energy Inc. has a 52 week low of $25.70 and a 52 week high of $33.79. The stock has a 50-day moving average price of $31.22 and a 200 day moving average price of $30.94.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Tuesday, September 5th will be paid a dividend of $0.2552 per share. This represents a $1.02 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Thursday, August 31st. This is a boost from Suncor Energy ‘s previous quarterly dividend of $0.24. Suncor Energy ‘s payout ratio is 77.87%.
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SU has been the subject of several research analyst reports. BidaskClub upgraded shares of Suncor Energy from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. Barclays PLC restated 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. National Bank Financial initiated coverage on shares of Suncor Energy in a research report on Tuesday, June 27th. They set an “outperform” rating for the company. Zacks Investment Research upgraded shares of Suncor Energy from a “sell” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Tuesday, July 4th. Finally, AltaCorp Capital downgraded shares of Suncor Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Suncor Energy presently has an average rating of “Buy” and an average target price of $42.86.
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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