Suncor Energy Inc. (SU) Shares Sold by World Asset Management Inc

World Asset Management Inc decreased its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 16.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,513 shares of the oil and gas producer’s stock after selling 7,907 shares during the period. World Asset Management Inc’s holdings in Suncor Energy were worth $1,606,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Augustine Asset Management Inc. grew its position in Suncor Energy by 1.3% in the second quarter. Augustine Asset Management Inc. now owns 104,288 shares of the oil and gas producer’s stock worth $4,242,000 after acquiring an additional 1,331 shares in the last quarter. Arcadia Investment Management Corp MI grew its position in Suncor Energy by 1.2% in the second quarter. Arcadia Investment Management Corp MI now owns 113,790 shares of the oil and gas producer’s stock worth $4,629,000 after acquiring an additional 1,331 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in Suncor Energy by 19.5% in the first quarter. Cubist Systematic Strategies LLC now owns 8,500 shares of the oil and gas producer’s stock worth $294,000 after acquiring an additional 1,385 shares in the last quarter. Synovus Financial Corp grew its position in Suncor Energy by 10.1% in the second quarter. Synovus Financial Corp now owns 16,080 shares of the oil and gas producer’s stock worth $654,000 after acquiring an additional 1,471 shares in the last quarter. Finally, NBT Bank N A NY grew its position in Suncor Energy by 21.3% in the first quarter. NBT Bank N A NY now owns 8,508 shares of the oil and gas producer’s stock worth $294,000 after acquiring an additional 1,494 shares in the last quarter. Hedge funds and other institutional investors own 65.14% of the company’s stock.

Several research analysts recently commented on the company. Zacks Investment Research upgraded Suncor Energy from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Monday, October 8th. Macquarie upgraded Suncor Energy from a “neutral” rating to an “outperform” rating in a research report on Tuesday. CIBC assumed coverage on Suncor Energy in a research report on Friday, October 5th. They issued a “sector outperform” rating for the company. Mizuho started coverage on Suncor Energy in a research report on Monday, July 23rd. They issued a “buy” rating for the company. Finally, ValuEngine lowered Suncor Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, September 11th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $49.43.

Shares of NYSE:SU opened at $36.64 on Friday. Suncor Energy Inc. has a 1 year low of $31.33 and a 1 year high of $42.55. The company has a market cap of $62.58 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 1.54 and a beta of 0.85. The company has a quick ratio of 0.56, a current ratio of 0.90 and a debt-to-equity ratio of 0.30.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, July 25th. The oil and gas producer reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.16. Suncor Energy had a return on equity of 9.61% and a net margin of 12.25%. The business had revenue of $8.08 billion during the quarter, compared to analyst estimates of $6.53 billion. During the same quarter in the previous year, the business earned $0.26 earnings per share. Analysts anticipate that Suncor Energy Inc. will post 2.51 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 25th. Shareholders of record on Tuesday, September 4th were given a dividend of $0.274 per share. The ex-dividend date was Friday, August 31st. This represents a $1.10 annualized dividend and a dividend yield of 2.99%. Suncor Energy’s dividend payout ratio (DPR) is presently 72.85%.

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

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